Maiden Holdings Awarded Summary Judgment in Securities Fraud Case




CAMDEN, N.J. — A New Jersey federal judge has awarded reinsurance services provider Maiden Holdings Ltd. and its executives summary judgment in a securities fraud case, finding they engaged in a complex actuarial process to set loss reserves that considered historical loss ratio information.

In a Dec. 19 order, Judge Christine O’Hearn of the U.S. District Court for the District of New Jersey found the plaintiff shareholders’ allegations regarding the setting of loss reserves were speculative and conclusory.

In 2007, Maiden agreed to provide reinsurance services to insurance provider AmTrust Financial Services Inc. Under that arrangement, when AmTrust paid out …






UPCOMING CONFERENCES




HarrisMartin's New Jersey Asbestos Litigation Conference

March 01, 2024 - New Brunswick, NJ
Hyatt Regency New Brunswick

MORE DETAILS



HarrisMartin's MDL Conference

March 27, 2024 - Charleston, SC
The Charleston Place

MORE DETAILS