Court Allows Discovery in Securities Fraud Case Against Maiden Holdings, Subsidiary of Kestrel Group Ltd
Maiden Holdings, a subsidiary of Kestrel Group Ltd., is facing a class action lawsuit for securities fraud. The U.S. Court of Appeals for the Third Circuit has vacated a prior summary judgment in favor of Maiden, allowing plaintiffs to pursue further discovery regarding misleading loss reserves. Maiden plans to defend against these claims with both procedural and substantive defenses.
Maiden Holdings, Ltd., a wholly owned subsidiary of Kestrel Group Ltd., is currently involved in a class action lawsuit. The United States Court of Appeals for the Third Circuit recently vacated a previous summary judgment in favor of Maiden and individual defendants Arturo Raschbaum, Karen Schmitt, and John Marshalek. The case, known as Wigglesworth v. Maiden Holdings, Ltd., centers on allegations of securities fraud under Section 10(b) of the Securities Exchange Act. The Third Circuit’s decision allows plaintiffs to pursue further discovery related to claims that Maiden’s loss reserves were misleading. Maiden intends to oppose and defend against these claims, asserting both procedural and substantive defenses. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Kestrel Group Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0002055116-25-000024), on August 22, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT) Original Document: here
