Fairfax Had ‘Massive’ Loss in Morgan Keegan Case: Judge
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Canadian insurer Fairfax Financial Holdings Ltd. suffered “massive” economic loss because of a campaign of negative information that led it to sue broker-dealer Morgan Keegan & Co. and Exis Capital Management Inc., a judge ruled.
A state judge in Morristown, New Jersey, narrowed the lawsuit yesterday, dismissing a claim against Morgan Keegan, Exis and two others, while allowing three claims to go to trial on Sept. 10. Fairfax seeks $8 billion in damages through its lawsuit, filed in 2006.