Fairfax acknowledges U.S.-based class action lawsuit

Fairfax Financial Holdings Limited (TSX:FFH.SV) (NYSE:FFH) has become aware of a class action lawsuit filed against it and certain of its officers and directors in the U.S. District Court for the Southern District of New York.
The lawsuit was filed “on behalf of a putative class consisting of investors who purchased the public debt securities of Fairfax between March 24, 2004 and March 21, 2006,” Fairfax announced in a press release, which is posted on its Web site. “Fairfax has not been served a copy of the complaint, but understands that the complaint alleges, among other things, that the defendants failed to disclose certain material information regarding Fairfax’s financial condition in connection with the offer and sale of debt securities.”
Fairfax goes on to say it “will not comment on this or any similar lawsuits that may be filed against the company, but will deal with them through the appropriate legal process.” Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance, investment management and insurance claims management.