Class action lawsuit taken against Sea Containers

A class action complaint from Milberg Weiss has been taken against Sea Containers Inc and its officers. The complaint alleges that SCL's Class Period financial statements, disseminated in press releases and SEC filings, were materially false and misleading because, among other things: (a) the Company had overvalued long-lived assets related to its ferry and container businesses by hundreds of millions of dollars; (b) the Company's reported earnings were materially overstated among other causes of action.