Meadowbrook Insurance Group said it will vigorously defend itself and certain of its officers against a class-action lawsuit alleging violation of federal securities laws.The insurer called the allegations contained in the complaint, filed in New York federal court, baseless and without merit.“While we understand that it is not unusual for this type of complaint to be filed when a company experiences a material drop in the trading price of its shares, we believe that the complaint is inaccurate and the claims are entirely without merit," said Mike Costello, senior vice president, general...
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