NEW YORK?RenaissanceRe Holdings Ltd. and several current and former executives are facing a shareholder lawsuit filed on behalf investors who allege they were misled about the firm's true financial condition and suffered damages as a result, Business Insurance reported.

New York-based Goodkind Labaton Rudoff & Sucharow L.L.P. and Philadelphia-based Goldman Scarlato & Karon P.C. jointly filed the complaint Wednesday in a U.S. District Court in Manhattan, citing the proposed class of plaintiffs as investors who purchased RenaissanceRe securities between January 24, 2002, and July 25, 2005, the trade publication said.

The complaint names Pembroke, Bermuda-based RenaissanceRe and five top executives: James N. Stanard, chairman and chief executive officer; William I. Riker, president; John M. Lummis, chief operating officer; Michael W. Cash, senior vp-specialty reinsurance; and Martin J. Merritt, controller.

With the exception of Mr. Cash, all of the executives are currently employed by RenaissanceRe.

The shareholder suit alleges that the company and the five individuals violated federal securities laws by knowingly issuing a series false and misleading statements regarding the company's financial state, which had the effect of artificially inflating the reinsurer's share price.