Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Maiden Holdings, Ltd. (NASDAQ: MHLD) from March 4, 2014 through November 9, 2018, inclusive (the Class Period). The lawsuit seeks to recover damages for Maiden investors under the federal securities laws.
To join the Maiden class action, go to https://www.rosenlegal.com/cases-1188.html or call Phillip Kim, Esq. or Zachary Halper, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTORS ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Maiden lacked adequate underwriting processes and risk management controls necessary to accurately price its reinsurance policies, set appropriate loss reserves and avoid excessive losses; (2) Maiden failed to take steps necessary to properly assess and cross check the insurance portfolio of AmTrust, its largest client and a related entity, to ensure that its reinsurance of AmTrusts portfolio was properly priced and did not expose Maiden to the risk of excessive losses; (3) Maiden failed to conduct appropriate independent reviews, actuarial analyses and audits of the policies underlying its AmTrust Reinsurance segment, which would have revealed that the risk of loss from these policies was significantly understated; (4) as a result of the foregoing, Maiden was subject to materially heightened risk of financial loss, reserve charges and diminished prospects; and (5) as a result, defendants statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 12, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-1188.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Zachary Halper, Esq.
Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653