Converium Holding AG Case 05/01/2007
On May 08, 2007, a motion to dismiss the complaint was filed. As the case proceeds, an Order on the withdrawal of motion to dismiss without prejudice to a renewal if the settlement should fail was entered on July 23, 2007. As a result, a scheduling Order concerning notice and hearing on settlement was entered on November 13, 2007. At the same time, a memorandum of law in support of final approval of settlement was also entered. Lastly, a Judgment settling the action was entered on February 08, 2008.
The complaint alleges this is a class action brought on behalf of Plaintiff, holders of the registered shares of Converium Holding AG (”Converium” or the “Company”) resident in the United States and holders of the Company’s American Depository Shares (or “ADSs”) against defendants SCOR, S.A. (”SCOR”) and Patinex AG (”Patinex”), alleging violations of the United States Securities and Exchange Act of 1934, as amended (the “Exchange Act”), 15 U.S.C. §§78m(d), 78n(d) and 78n(e). Plaintiff and the class seek immediate injunctive relief against defendants in connection with an unlawful plan to acquire the Company by means of a hostile takeover tender offer.