Lawyers are organizing a suit alleging that a life insurer misrepresented material facts when it bought debentures from a Florida company.

Robert Thielhelm Jr., a partner in the Orlando, Fla., office of Baker & Hostetler L.L.P., and other Baker & Hostetler lawyers have filed a notice of efforts to file a securities class-action suit against Southern Farm Bureau Life Insurance Company, Jackson, Miss., in the U.S. District Court in the middle district of Florida.

The lawyers are seeking court certification of class that will include investors who owned stock in Plaintiffs’ Shareholders from Sept. 29, 2004, to Oct. 15, 2004.

Members of the class sold Plaintiffs’ Shareholders shares to Southern Life as a result of Southern Life’s alleged omissions of material facts in connection with Southern Life’s purchase of a ‘debenture’ held by Plaintiffs’ Shareholders, the lawyers say in an announcement describing the suit.

Representatives for Southern Life were not immediately available for comment.