Swiss Re hit by US lawsuit
Swiss Re has been hit with a lawsuit in the US, alleging that it made “false and misleading statements” about its financial condition specifically relating to the monster SFr1.1bn writedown of two credit default swap contracts in November.
Coughlin Stoia Geller Rudman & Robbins LLP, acting on behalf of an “institutional investor”, charges Swiss Re and certain of its officers and directors with violations of the Securities Exchange Act
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