Third Circuit vacates summary judgment for Maiden subsidiary in securities fraud class action; remands for discovery

Kestrel Group Ltd

Third Circuit vacated District Court summary judgment for Maiden in securities class action Wigglesworth v. Maiden Holdings, Ltd.
Remanded for discovery on Section 10(b) claims; court did not rule on scienter element.
Defendants may petition for rehearing; Maiden believes it has substantive and procedural defenses.
Case involves allegations that Maiden's loss reserves were misleading.

item 8.01

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