CHR Scor Hldg Switzerland Ltd

Schatz & Nobel, P.C. Announces Class Action Lawsuit Against Coverium Holding AG HARTFORD, Conn., Oct. 5 /PRNewswire/ -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased the securities of Coverium Holding AG (NYSE:CHR) ("Coverium") between December 11, 2001 and July 20, 2004 (the "Class Period"), including any participants in Coverium's December 11, 2001 Initial Public Offering ("IPO") of American Depository Receipts ("ADRs"). The Complaint alleges that Converium made misrepresentations or failed to disclose material adverse facts to the market during the Class Period. On July 20, 2004, Converium announced that its second quarter results would be impacted by a reserve strengthening for its US casualty business and subsequent asset impairments on the balance sheet of Converium Reinsurance. On this disclosure, shares of Converium fell from a close of $25.02 on July 19, 2004, to close at $13.90 on July 20, 2004. On September 2, 2004, Standard & Poor's and A.M. Best lowered their Converium credit ratings in reaction to Coverium's reserve adjustment. On this news, shares of Converium fell an additional $1.04 per share, or 10.51%, to close at $8.86 per share. If you are a member of the class, you may, no later than December 3, 2004, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s). For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at . To view a copy of the lawsuit initiating the class action, or for more information about class action cases and Schatz & Nobel, please visit our website: http://www.snlaw.net/. CONTACT: Wayne T. Boulton or Nancy Kulesa Tel.: (800) 797-5499 Website: http://www.snlaw.net/ e-mail: DATASOURCE: Schatz & Nobel, P.C. CONTACT: Wayne T. Boulton or Nancy Kulesa both of Schatz & Nobel, P.C., +1-800-797-5499, Web site: http://www.snlaw.net/

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