Robbins Geller Achieves Appellate Victory Reversing Summary Judgment in Securities Fraud Case

Robbins Geller Rudman & Dowd LLP and co-counsel achieved a victory for investors in a securities fraud case against reinsurance company Maiden Holdings, Ltd., reversing the district court’s ruling granting summary judgment in favor of Maiden. Robbins Geller and co-counsel represent the lead plaintiffs in a securities fraud case alleging Maiden’s statements about the amount of funds set aside to pay future claims were misleading. 

In overturning the district court ruling, the U.S. Court of Appeals for the Third Circuit cited another Robbins Geller case, Omnicare. The Third Circuit ruled there was “no dispute that Maiden had access to historical loss data that it omitted from its statements about loss reserves.” The opinion stated a reasonable factfinder could conclude that the omission was significant enough to make Maiden’s statements misleading.

The case will return to the district court for further proceedings and full discovery.

Robbins Geller attorneys Steven F. Hubachek, Tor Gronborg, Trig Smith, and Harini P. Raghupathi, and co-counsel represented plaintiffs in the appeal.

In re Maiden Holdings, Ltd. Securities Litigation, 153 F.4th 354 (3d Cir. 2025).