Aggrieved investors have filed a class action suit against five RenaissanceRe Holdings Ltd. executives in U.S. District Court in Manhattan in connection with their possible accounting misdeeds.

The legal action follows the company's announcement that both Chief Executive Officer James Stanard and Michael Cash, a senior vice president who resigned from the company, have been given notice they face possible civil enforcement actions by the Securities and Exchange Commission.

In addition to Mr. Stanard and Mr. Cash the suit names as defendants William Riker, CEO of Glencoe Holdings Group subsidiary; John Lummis, Renaissance chief operating officer and chief executive officer; and senior executive Martin Merritt.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.