LCO No. 2195 1 of 1
General Assembly Proposed Bill No. 6493
January Session, 2019
LCO No. 2195
Referred to Committee on JUDICIARY
Introduced by:
REP. LUXENBERG, 12th Dist.
AN ACT AUTHORIZING THE ATTORNEY GENERAL TO BRING AN
ACTION AGAINST INSURANCE COMPANIES BECAUSE OF THEIR
FAILURE TO DISCLOSE CERTAIN DOCUMENTS RELATING TO THE
STATE'S CRUMBLING FOUNDATION CRISIS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That chapter 35 of the general statutes be amended to authorize the 1
Attorney General to bring an action against insurance companies on 2
behalf of the shareholders of such companies who live in this state for 3
failing to disclose to the federal Securities and Exchange Commission 4
the liability these companies face in court actions as a result of the 5
state's crumbling foundation crisis. 6
Statement of Purpose:
To protect and provide a financial remedy to shareholders of publicly
traded insurance companies resulting from the failure of such
companies to disclose to their shareholders the liabilities such
companies face in court actions as a result of the state's crumbling
foundation crisis.