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IN RE VESTA INSURANCE GROUP INC SECURITIES LITIGATION Click to find out why . . .



Keywords & Phrases
CaseNo: VIGCAL238046, CourtName: CLASS ACTION II, State: AL Alabama, UniqueCaseRef: LCD>VIGCAL238046, Vesta, Securities, Class Action, Class Period, Huffman, Leonard, Vesta Insurance Group, Damages, Allegations, Complaint, Alabama, District, United States, Misleading, Artificially Inflated Prices, Kittie Laperriere, States District Court, Material Facts, Market Price, Reinsurance, Materially False, Representative Party, Federal Securities Laws, Class Consisting, Personal Knowledge, Misrepresentations, Dissemination, Vesta Fire, Stock, Fletcher, Heibein, Thornton, Prospects , ContentID: 120251983

Case Documents
1 1999-03-15 CONSOLIDATED AMENDED COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 126493
82 pages
PDF
2 1998-06-02 COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 126492
11 pages
TXT
Total Documents: 2 documents , 93 pages
Price: $ 24.95


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1 . CONSOLIDATED AMENDED COMPLAINT

EXTRACTED KEY WORDS
VESTA FIRE
STOCK
FLETCHER
HEIBEIN
THORNTON
PROSPECTS
FEED FALSE INFORMATION
CONDUIT
ROSE
MEREDITH
PATRICK
GAYLE
LEONARD
RICHEY
HUFFMAN
PROXY
COMMON STOCK PRICES
WEEKLY COMMON STOCK
VESTA INSURANCE GROUP
STOCK SPLIT
DAY-L
MISLEADING
LLCOMPANYL
VESTAL1
CLASS ACTION COMPLAINT
AMENDED CLASS ACTION
CONSOLIDATED AMENDED CLASS
MARY BETH HEIBEIN
FLORIDA STATE BOARD
                        IN  THE  UNITED               STATES  DISTRICT
                                 NORTHERN  DISTRICT              OF  AI&B&.              
                                             SOUTHERN  DIVISION                  0.  QF


ISRAEL  BERGER,  RICHARD  SULLIVAN,                             )  Master        File       No.
THE  POINTERS,        CLEANERS  &  CAULKERS                               98-AR-1407-S
LOCAL  1  PENSION  FUND,  and  THE                              ;
FLORIDA  STATE  BOARD  OF
ADMINISTRATION,           On  Behalf           of               i  cLAss  ACT1oN
Themselves        and  All  Others             Similarly        )
Situated,
                                                                ;
                                  -Plaintiffs,
                                                                ;
        vs.
                                                                ;
VESTA  INSUMCE            GROUP,  INC.,               KPMG
PEAT  MARWICK  LLP,  TORCHMARK                                  !
CORPORATION,         ROBERT  Y.  HUFFMAN,
STEPHEN  P.  LEONARD,  DONALD  W.                               I
THORNTON,  MARY  BETH  HEIBEIN,
NORMAN  W.  GAYLE,  III,              BARRY  A.                i
PATRICK,        BRIAN  R.  MEREDITH,
R.  K.  RICHEY,  and  RUSSELL  C.                              ;
FLETCHER,
                                                               ;
                                  Defendants.
                                                               ;
In  re  VESTA  INSURANCE  GROUP,  INC.                         i
SECURITIES        LITIGATION
                                                               i
This  Document        Relates        To:                       ,'
       ALL  ACTIONS.-                                          ; 1

                CONSOLIDATED  AMENDED  CLASS  ACTION  COMPLAINT  FOR
                    VIOLATION         OF  THE  FEDEm                   SECURITIES         LAWS



                                                             INTRODDCTION
              1.      This  is  a  class  action  pursuant                                    to 
Rules  of  Civil                  Procedure             on  behalf  of  all  persons  who  acquired
publicly             traded          equity           securities              of  Vesta  Insurance 
 ("Vestal1  or  the  llCompanyl')  between  June  2,  1995  and  June  29,  1998
 (the  "Class  Period"),                        inclusive.                The  defendants          
certain              of  Vestals                officers               and/or           directors; 
Marwick              LLP  (ttKPMGl'),                   Vesta's          independent               
unqualified               (clean)            opinions             on  Vesta's            false 
SNIPPETS:
  • FLORIDA STATE BOARD OF
  • THORNTON, MARY BETH HEIBEIN,
  • FLETCHER,
  • CONSOLIDATED AMENDED CLASS ACTION COMPLAINT FOR
  • ("Vestal1 or the llCompanyl')
  • misleading.
  • in one day-l
  • stock split.
  • Vesta Insurance Group, Inc.
  • Weekly Common Stock Prices
  • Source: VTA's 1998 Proxy pg.
  • of Vesta Fire.
  • Huffman:
  • Richey:
  • Leonard:
  • Gayle:
  • Patrick:
  • Meredith:
  • over the years and, in 1997, rose 22 percent.
  • AS A CONDUIT TO FEED FALSE INFORMATION
  • prospects.

  • 2 . COMPLAINT

    EXTRACTED KEY WORDS
    VESTA
    PLAINTIFF
    SECURITIES
    CLASS ACTION
    CLASS PERIOD
    HUFFMAN
    DAMAGES
    LEONARD
    VESTA INSURANCE GROUP
    MEMBERS
    ALLEGATIONS
    COMPLAINT
    ALABAMA
    DISTRICT
    UNITED STATES
    ARTIFICIALLY INFLATED PRICES
    MISLEADING
    KITTIE LAPERRIERE
    STATES DISTRICT COURT
    MATERIAL FACTS
    MARKET PRICE
    REINSURANCE
    MATERIALLY FALSE
    REPRESENTATIVE PARTY
    FEDERAL SECURITIES LAWS
    CLASS CONSISTING
    PERSONAL KNOWLEDGE
    MISREPRESENTATIONS
    DISSEMINATION
    
                        IN THE UNITED STATES DISTRICT COURT
                        FOR THE NORTHERN DISTRICT OF ALABAMA
                                 SOUTHERN DIVISION
    
       KITTIE LAPERRIERE, on behalf of herself
       and all others similarly situated,
    
                  Plaintiffs,
    
       v.
    
       VESTA INSURANCE GROUP, INC.,
       ROBERT Y. HUFFMAN and STEPHEN P.
       LEONARD,
    
                  Defendants.
    
       )
       )
       )
       )
       )
       )
       )
       )
       )
       )
       )
       )
    
       CLASS ACTION COMPLAINT
       JURY TRIAL DEMANDED
    
       CIVIL ACTION NO.
       CV-98-AR-1407-S
       (filed Jun. 2, 1998)
    
                                     COMPLAINT
    
       Plaintiff Kittie LaPerriere, individually and on behalf of all others
       similarly situated, by her attorneys, alleges the following upon
       information and belief except for those allegations pertaining to
       plaintiff, which are based on personal knowledge:
    
                                NATURE OF THE ACTION
    
       1. Plaintiff brings this action as a class action on behalf of a class
       consisting of plaintiff and all other persons or entities who
    
    SNIPPETS:
  • IN THE UNITED STATES DISTRICT COURT
  • FOR THE NORTHERN DISTRICT OF ALABAMA
  • CLASS ACTION COMPLAINT JURY TRIAL DEMANDED
  • Plaintiff Kittie LaPerriere, individually and on behalf of all others similarly situated, by
  • Plaintiff brings this action as a class action on behalf of a class consisting of plaintiff
  • Plaintiff purchased shares of Vesta at an artificially inflated price during the Class Period.
  • Vesta provides treaty reinsurance, primarily through reinsurance intermediaries, to small and
  • Defendant Robert Y. Huffman served as President and Chief Executive Officer of Vesta at all
  • Defendant Stephen P. Leonard served as Senior Vice President and Treasurer of Vesta at all
  • each of the Individual Defendants had a duty to disseminate accurate and truthful information
  • Each of the Individual Defendants participated in writing or reviewing Vesta's corporate
  • Because of their positions and access to material non-public information available to them,
  • Plaintiff brings this action on her own behalf and as a class action pursuant to Rule 23 of
  • Members of the Class are so numerous that joinder of all members is impracticable.
  • There are thousands of members of the Class, dispersed throughout the United States, thereby
  • Plaintiff and the members of the Class have sustained damages because of defendants' unlawful
  • Defendants made public misrepresentations and/or omitted material facts during the Class
  • defendants acted with scienter in that they knew or recklessly disregarded that the public federal securities laws.
  • the Individual Defendants were motivated to issue false and misleading financial statements
  • By reason of the conduct alleged in Count I of the Complaint, the Individual Defendants are
  • I have not served or sought to serve as a representative party on behalf of a class under the
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