A Swiss company that was sued after its former North American business unit experienced a “dramatic drop” after being taken public has convinced a federal judge to drop class action claims against it and its management.

In In re Converium Holding AG Securities Litigation, 04 Civ. 7897, Southern District of New York Judge Denise Cote dismissed securities fraud charges against Zurich Financial Services, the former parent company of Converium Reinsurance Co.

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