Article: Florida problem hurts American Medical

Florida problem hurts American Medical

License suspension sends stock down 19% despite good earnings report

By JOE MANNING of the Journal Sentinel staff

Friday, July 26, 2002

News of an unfavorable regulatory insurance ruling in Florida sent shares of Green Bay-based American Medical Security Group tumbling Thursday by more than 19%, closing down $3.07 at $13.05.

Volume was 469,300, more than three times the daily average volume of 132,818.

In a second-quarter financials conference call Thursday afternoon, Samuel V. Miller, chairman and chief executive officer, said the health insurer filed for an immediate stay of Florida Treasurer and Insurance Commissioner Tom Gallagher's one-year ...

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