BENSALEM, Pa., Jan. 11 /PRNewswire/ -- Law Offices of Howard G. Smith announces that a securities class action lawsuit has been filed on behalf of investors who purchased the common stock of Security Capital Assurance Ltd. ("Security Capital" or the "Company") between April 23, 2007 and December 10, 2007, including those who purchased shares in the Company's Secondary Public Offering of June 6, 2007, inclusive (the "Class Period"). The class action lawsuit was filed in the United States District Court for the Southern District of New York.
The Complaint alleges that defendants violated federal securities laws by issuing material misrepresentations to the market concerning Security Capital's financial performance and prospects, thereby artificially inflating the price of the Company's securities.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased the securities of Security Capital Assurance Ltd. between April 23, 2007 and December 10, 2007, or in the Company's June 6, 2007 Secondary Public Offering, you have certain rights, and have until February 5, 2008, to move for Lead Plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215)638-4847, Toll-Free at (888)638-4847, by email to
