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 Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of 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: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.