MGIC Sues Radian Over Information

MGIC Investment Corp., Milwaukee, has filed suit in the Federal District Court in Milwaukee looking for a court order to have the Radian Group Inc., Philadelphia, "provide MGIC with certain information needed by MGIC's management" to complete its analysis on whether it should pull out of the merger transaction.Back on Aug. 7, MGIC said it was not obligated to complete the merger because of the problems at C-Bass, a joint venture owned by both companies. At that time MGIC said it was looking to complete its analysis by the week of Aug. 13. In a statement, Radian said it was "disappointed that MGIC filed a lawsuit." It said it never consented to MGIC's timeline and "is compelled to carefully assess the proprietary nature of the subsequent information requests to ensure that Radian does not provide MGIC with an unfair competitive advantage" if the deal does not take place.