Scottish Re facing class action from Ohio AG
Ohio Attorney General Jim Petro has filed a motion in federal court in New York requesting the State Teachers Retirement System of Ohio (STRS) be appointed lead plaintiff in a securities class action lawsuit filed in August against Scottish Re Group.
The reinsurance company's disclosures of serious accounting problems in July precipitated an immediate 75 percent decline in the company's stock price and caused STRS to suffer losses of more than
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