Auto insurer State Auto Financial Corp. has filed a lawsuit against Gregory Shepard, a minority shareholder attempting a takeover bid of the company, for “intentional misrepresentations and omissions” they claim he made.
Columbus, Ohio-based State Auto has asked a federal court to order Shepard to elaborate on how he plans to finance the proposed takeover. Shepard owns about 5 percent in State Auto shares, and has bid $30 a share but the company rejected it.
Topics Auto
Was this article valuable?
Here are more articles you may enjoy.
Chubb Posts Record Q4 and Full Year P/C Underwriting Income, Combined Ratio 
The $3 Trillion AI Data Center Build-Out Becomes All-Consuming for Debt Markets 
Lawyer for Prominent Texas Law Firm Among Victims ID’d in Maine Plane Crash 
Uber Jury Awards $8.5 Million Damages in Sexual Assault Case 
