Evidentiary Hearing Postponed in Connecticut Pre-Hearing Security Dispute

HARTFORD, Conn. — Following Excalibur Reinsurance Corp.’s opposition of a ruling ordering it to post pre-pleading security, a Connecticut federal magistrate judge has postponed an evidentiary hearing that had been scheduled to determine the amount of security Excalibur was required to post.

On March 31, Magistrate Judge Joan G. Margolis of the U.S. District Court for the District of Connecticut notified the parties that the hearing, which had been scheduled for April 6, will be rescheduled in the future.

Ernst & Young was sued by plaintiffs alleging improprieties in its tax advice. Select allegedly paid nearly $5 million for the …