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News Focus - PXRE storm losses prompt lawsuits.
(From Reinsurance)
A class action has been filed against PXRE alleging that the company misrepresented its losses from the 2005 hurricane season.
The action, which was brought in by law firm Schiffrin & Barroway, charges PXRE, the company's president and chief executive Jeffrey Radke, and former chief financial officer John Modin with violations of the Securities Exchange Act of 1934.
The complaint alleges that PXRE concealed from investors exactly how ...
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