Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: St. Paul Travelers Companies Inc.
Current Parent Company: Travelers
Penalty: $67,500,000
Year: 2005
Date: November 30, 2005
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: In a case brought by the New Mexico AG on behalf of a state pension fund and other investors, St. Paul Travelers agreed to pay $67.5 million to settle allegations that crucial information with withheld from shareholders during the merger discussions between St. Paul and Travelers.
Level of Government: state
Action Type: agency action
Agency: New Mexico Attorney General
Civil or Criminal Case: civil
Facility State: New Mexico
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: Attorney General Madrid Announces Settlement in St. Paul Travelers Insurance Fraud Lawsuit, US States News, November 30, 2005 (via Nexis).
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.