Securities Litigation: HCC Insurance

Bristol County Retirement System v. HCC Insurance Holdings Inc
USDC SD Texas
Option Timing

Company background

Litigation background

Lead plaintiffs

SEC disclosure

Form 10-Q 8.07.08 at page 34
Civil Action No. 07-0801; In re HCC Insurance Holdings, Inc. Securities Litigation; In the United States District Court for the Southern District of Texas, Houston Division (formerly referred to as Bristol County Retirement System, individually and on behalf of all others similarly situated v. HCC Insurance Holdings, Inc. et al.). This action was filed on March 8, 2007. We were named as a defendant in this putative class action along with certain current and former officers and directors. On February 7, 2008, the parties reached an agreement to settle the case and proposed the settlement to the Court for approval. The terms of the settlement, which included no admission of liability or wrongdoing by the Company or any other defendants, provided for a full and complete release of all claims in the litigation and payment of $10.0 million into a settlement fund. At a hearing on April 17, 2008, the Court gave preliminary approval of the proposed settlement. At a hearing on July 17, 2008, the Court gave final approval for the settlement and entered final judgment, concluding the matter. The $10.0 million was paid by our directors and officers liability insurers.

Lead Plaintiff and Counsel Appointed