James Ritchie

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Class action securities lawsuit filed against Quanta Capital

A class action securities fraud lawsuit has been filed in the United States against Bermuda-based, NASDAQ-listed specialty insurer Quanta Capital Holdings Ltd., seven officers and directors, and two underwriters. The complaint was filed at the U. S. District Court for the Southern District of New York on February 5, 2007 on behalf of all purchasers of Quanta's common and preferred shares between December 14, 2005, when Quanta completed a $135 million equity offering, and March 2, 2006.

Quanta Capital goes into run-off

Troubled Bermuda insurer Quanta Capital Holdings Ltd. announced on May 25 that it had gone into run-off, with the exception of its Lloyd's of London environmental consulting business, ESC.