STORY FROM: Reinsurance & Arbitration

Securities Class Action Lawsuit Filed Against AmTrust’s Reinsurance Services Provider

TRENTON, N.J. — A reinsurance services provider has been hit with a securities class action accusing it of concealing portfolio risks involving AmTrust Financial Services and misrepresenting the quality and nature of its underwriting and risk management policies and practices.

Stockholder Michael Wigglesworth filed the action on Feb. 11 in the U.S. District Court for the District of New Jersey, accusing Maiden Holdings Ltd. and its officers of subjecting the company and its investors to catastrophic losses by causing its stock to remain artificially inflated.

Maiden Holdings Ltd. is a Bermuda-based holding company that provides reinsurance services through its subsidiaries. ...

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