| Company: | St. Paul Travelers Companies, Inc. |
| Ticker Symbol: | NYSE: STA |
| Class Period: | January 27, 2000 to October 22, 2004 |
| Date Filed: | Nov-03-04 |
| Lead Plaintiff Deadline: | Dec-29-04 |
| Court: | District, MN |
| Allegations: |
A class action lawsuit has been filed in the United States District Court for the District of Minnesota, on behalf of all persons who purchased the securities of The St. Paul Travelers Companies, Inc. ("St. Paul" or the "Company") (NYSE: STA) between January 27, 2000 and October 22, 2004, inclusive, (the "Class Period") against defendants St. Paul and certain officers and directors of the Company.
The complaint alleges that defendants violated the federal securities laws by issuing materially false and misleading statements throughout the Class Period that had the effect of artificially inflating the market price of the Company's securities.
The Complaint alleges that during the Class Period defendants made statements that were materially false and misleading because they failed to disclose and misrepresented the following adverse facts: (a) the Company had implemented and executed an unsustainable business practice whereby the Company designed and executed a business plan under which it agreed to pay so-called "contingent commissions" to insurance brokers to have them steer business to St. Paul and shield St. Paul from competition; (b) the Company's illicit scheme exposed the Company to significant regulatory penalties and threatened loss of consumer goodwill jeopardizing the Company's ability to sustain any performance in its legitimate business practices; (c) the Company's revenues and earnings would have been significantly less had the Company not engaged in such unlawful practices; (d) and the Company's prospects were at risk because its business and revenue could and would not be sustained when the public learned of its unlawful practice alleged herein.
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.
The complaint alleges that defendants violated the federal securities laws by issuing materially false and misleading statements throughout the Class Period that had the effect of artificially inflating the market price of the Company's securities.
The Complaint alleges that during the Class Period defendants made statements that were materially false and misleading because they failed to disclose and misrepresented the following adverse facts: (a) the Company had implemented and executed an unsustainable business practice whereby the Company designed and executed a business plan under which it agreed to pay so-called "contingent commissions" to insurance brokers to have them steer business to St. Paul and shield St. Paul from competition; (b) the Company's illicit scheme exposed the Company to significant regulatory penalties and threatened loss of consumer goodwill jeopardizing the Company's ability to sustain any performance in its legitimate business practices; (c) the Company's revenues and earnings would have been significantly less had the Company not engaged in such unlawful practices; (d) and the Company's prospects were at risk because its business and revenue could and would not be sustained when the public learned of its unlawful practice alleged herein.
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.
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