Robbins Arroyo LLP: Maiden Holdings, Ltd. (MHLD) Sued for Misleading Shareholders
SAN DIEGO & PEMBROKE, Bermuda--(BUSINESS WIRE)--Feb 15, 2019--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Maiden Holdings, Ltd. (NasdaqGS: MHLD) filed a class action complaint against the company for alleged violations of the Securities and Exchange Act of 1934 between March 4, 2014 and November 9, 2018. Maiden Holdings, through its subsidiaries, provides reinsurance solutions to regional and specialty insurers in the United States and internationally.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/maiden-holdings/
Maiden Holdings Accused of Subjecting Company to Risk of Financial Loss
According to the complaint, Maiden began filing misleading financial statements in March 2014, representing that the company employed sophisticated and dependable risk management processes that would allow the company to provide predictable operating results and shareholder returns. However, Maiden lacked adequate underwriting processes and risk management controls necessary to accurately price its reinsurance policies and set appropriate loss reserves. Further, Maiden failed to properly assess the insurance portfolio of AmTrust, its largest client and a related entity, to ensure that the company was not exposed to the risk of excessive losses. When Maiden’s troubles were revealed to the market, Maiden’s stock plummeted, and currently trades at only $1.30 per share – more than 93% below the class period high of $18.85 per share.
Maiden Holdings Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190215005583/en/
CONTACT: Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San Diego, CA 92122
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES BERMUDA NORTH AMERICA CARIBBEAN CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Arroyo LLP
Copyright Business Wire 2019.
PUB: 02/15/2019 06:51 PM/DISC: 02/15/2019 06:50 PM