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Maiden Holdings wins summary judgment in securities class action over loss reserves
Maiden Holdings, Ltd.
- U.S. District Court for District of New Jersey granted summary judgment to Maiden and three individual defendants.
- Court held that facts did not support allegations of false statements regarding loss reserves under Section 10(b).
- Control person claims under Section 20(a) against individual defendants were also dismissed.
- Plaintiffs have 30 days from December 19, 2023 to appeal the judgment.