RenaissanceRe and several current and former executives are facing a shareholder lawsuit filed on behalf of investors who allege they were misled about the firm's true financial condition and suffered damages as a result.
The shareholder suit alleges that the company and the five individuals violated federal securities laws by knowingly issuing a series of false and misleading statements regarding the company's financial state, which had the effect of artificially inflating the reinsurer's share price.
A spokesman for RenaissanceRe said: "the company has a policy of not commenting on pending litigation."
