| Company: | AXIS Capital Holdings Ltd. |
| Ticker Symbol: | NYSE: AXS |
| Class Period: | August 6, 2003 to October 14, 2004 |
| Date Filed: | Oct-29-04 |
| Lead Plaintiff Deadline: | Dec-27-04 |
| Court: | Southern District, NY |
| Allegations: |
A lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased the securities of AXIS Capital Holdings Ltd. (NYSE: AXS; "AXIS") between August 6, 2003 and October 14, 2004 (the "Class Period"), including anyone who purchased in the June 30, 2003 Initial Public Offering ("IPO") or the April 15, 2004 secondary offering.
AXIS is a holding company that through its subsidiaries provides a range of insurance and reinsurance products on a world-wide basis. The Complaint alleges that during the Class Period, AXIS violated federal securities laws by making materially false or misleading public statements. Specifically, the Complaint alleges that AXIS was involved in the payment of "contingent commissions" which improperly influenced the insurance bid-making process. On October 14, 2004, New York Attorney General Elliot Spitzer announced that he had charged several of the nation's largest insurance companies and the largest broker with bid rigging and pay-offs that he claimed violated fraud and competition laws. On these revelations, AXIS' shares fell approximately 10%, from a close of $25.89 per share on October 13, 2004 to close at $23.36 on October 15, 2004.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
AXIS is a holding company that through its subsidiaries provides a range of insurance and reinsurance products on a world-wide basis. The Complaint alleges that during the Class Period, AXIS violated federal securities laws by making materially false or misleading public statements. Specifically, the Complaint alleges that AXIS was involved in the payment of "contingent commissions" which improperly influenced the insurance bid-making process. On October 14, 2004, New York Attorney General Elliot Spitzer announced that he had charged several of the nation's largest insurance companies and the largest broker with bid rigging and pay-offs that he claimed violated fraud and competition laws. On these revelations, AXIS' shares fell approximately 10%, from a close of $25.89 per share on October 13, 2004 to close at $23.36 on October 15, 2004.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
If you feel you qualify for damages or remedies that might be awarded in this class action please fill in our form on the right to submit your complaint.
If your injustice does not match the complaint described above, please use this form to register your complaint. Thank you.
