The chief executive of Los Angeles-based health care liability insurer SCPIE Holdings Inc. has been accused by an investor in the company of making "false and misleading statements" about the firm's upcoming merger.
On Tuesday, the insurer announced it had agreed to be acquired by The Doctors Company, a physician-owned medical malpractice carrier, for approximately $281 million.
Investor Joseph Stilwell, who resigned from SCPIE's board Tuesday but still holds 8.97 percent of the insurer's shares, made his charges concerning CEO Donald Zuk in a letter Thursday to SCPIE Chairman Dr. Mitchell S. Karlan.
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