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12 May 2011 07:44
12 May 2011
Argo Group Limited (the "Company")
Litigation Update
Following various updates, most recently on 1 April 2011, the Company is pleased to announce the following in relation to the claim filed by The Cascade Fund, LLLP in which the Company is named as a defendant (the "Claim").
Background
The Claim was filed in Colorado, USA in June 2008 by an investor in several of ACMH Limited's ("ACMH") investment funds and initially named ACMH and certain of its former executives as defendants. On 2 March 2009 the Company announced that it had been named as an additional defendant.
On 1 April 2011 the Company announced that the Court granted the Company's and ACMH's motions to dismiss Cascade's second amended complaint in its entirety. In its order, the Court stayed the dismissal of the Claim and granted Cascade the right to amend and re-file its Claim to attempt for a third time to establish a valid claim against ACMH and the Company.
The Company is pleased to announce that the time for Cascade to have amended and re-filed its Claim has expired and no amended Claim was filed.
Enquiries
Kyriakos Rialas Tel: +357 22-668900
Jeremy Bradshaw Tel: +44 (0)20 7535 4000
Panmure Gordon Tel: +44 (0)20 7459 3600
Dominic Morley
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