Reinsurer Wins Summary Judgment In Securities Suit Involving Loss Ratios

(December 21, 2023, 1:03 PM EST) -- CAMDEN, N.J. — Citing findings including evidence of “a complex actuarial process to set loss reserves,” a New Jersey federal judge granted summary judgment to a reinsurer and some of its former executives after finding that shareholders used a “falsity-by-omission” theory of liability in alleging that the defendants violated federal securities laws....