Shareholder Notice: Zwerling, Schachter & Zwerling, LLP Files Shareholder Class Action on Behalf of Purchasers of Security Capit

NEW YORK, Jan. 14  /PRNewswire-USNewswire/ -- Zwerling, Schachter & Zwerling, LLP ("Zwerling Schachter") has filed a class action lawsuit in the United States District Court for Southern District of New York on behalf of all persons and entities who purchased the common stock of Security Capital Assurance, Ltd. ("Security Capital" or the "Company") (NYSE:SCA) pursuant to the Company's secondary stock offering on June 6, 2007 of more than 9.6 million shares at $31.00 per share.  Additional complaints have been filed on behalf of all persons who purchased Security Capital's common stock during the period from April 23, 2007 to December 10, 2007.  Security Capital, through its subsidiaries, provides financial guaranty insurance, reinsurance, and other credit enhancement products to the public finance and structured finance markets in the United States and internationally.

The deadline to file a motion seeking to be appointed lead plaintiff is February 5, 2008.  If you purchased Security Capital's common stock pursuant to the secondary offering, or in the open market during the period from April 23, 2007 to December 10, 2007, you may apply to serve as lead plaintiff.  The lead plaintiff is responsible for overseeing the prosecution of the action and ensuring that the interests of the class are protected.  You may apply to be appointed lead plaintiff through Zwerling Schachter.

If you wish to discuss this action or have any questions concerning your rights and interests with respect to this securities litigation matter, please contact Zwerling Schachter (Kevin McGee, Esq. or Donald Lanier) at 1-800-721-3900 or by e-mail at  or .

The complaints filed allege that defendants violated the federal securities laws.  Specifically, the complaints allege that during the relevant period defendants made numerous untrue statements of material facts and failed to disclose that: a substantial portion of the Company's credit portfolio related to sub-prime residential mortgage backed securities ("RMBS") and collateralized debt obligations ("CDOs") had declined substantially in value; 2) the Company's net loss reserves were inadequate in light of the Company's deteriorating credit portfolio; 3) the Company's credit default swaps were not fairly valued; and 4) as a result of the Company's imprudent underwriting, inadequate loss reserves and overvaluation of its credit default swaps, the Company's AAA credit rating was at risk of being downgraded.  As a result of these false statements and omissions, persons who purchased the Company's common stock during the relevant period paid materially more than what the shares were worth.

Zwerling Schachter concentrates in prosecuting class actions nationwide on behalf of investors.  The firm currently plays a leading role in numerous major securities and complex commercial litigations pending in federal and state courts and has offices in New York City, Uniondale, New York, Boca Raton, Florida and Seattle, Washington.  The firm has been recognized by courts throughout the country as highly experienced and skilled in complex litigation, particularly with respect to federal securities class action litigation.

Visit our website at:  http://www.zsz.com/ 

DATASOURCE: Zwerling, Schachter & Zwerling, LLP



CONTACT:  Kevin McGee, Esq., , or Donald Lanier,

, both of Zwerling, Schachter & Zwerling, LLP, [phone] 





Web Site:  http://www.zsz.com/ 

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