Stewart Information Services Corp., Houston, has revised its second-quarter earnings as a result of the discovery of more fraudulent activity. Originally, the company reported a $26.6 million loss ($1.47 per share) for the period. However, Stewart has since connected several independent claims to a series of fraudulent transactions, which has resulted in the reclassification of the claims into a single, large title claim. As a result, Stewart has taken a pretax charge of $3.0 million ($2.0 million after taxes, or $0.11 per share). This brings the net loss for the second quarter to $28.6 million ($1.58 per share).
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