Securities Fraud Lawyer - Monarch Capital Corporation Securities Litigation

Monarch Capital was an unregulated holding company which owned all of the stock of the Monarch Life Insurance Company, a regulated life insurance company. The action centered around the defendants' failure to disclose the parent corporation's unlawful transfer of over $100 million from its life insurance subsidiary to Monarch Capital. The settlement was for approximately $5 million with the officers and directors of Monarch Capital and Monarch Life. Claims against the auditors of the life insurance company and its parent remain.