Securities Suit Involving Reinsurance Dismissed For Lack Of Scienter

( January 28, 2025, 10:54 AM EST) -- NEW YORK — Ruling that the “allegations fail to raise the required strong inference of scienter” and that further amendment would be futile, a New York federal judge dismissed a putative class action that attempted to use a reported error on the reinstatement premium for a specialty casualty reinsurance treaty — and purported statements from confidential witnesses — as the basis for securities fraud claims....