Further re Litigation


 

TIDMARGO 
 
RNS Number : 6310M 
ARGO Group Limited 
27 May 2010 
 

                               Argo Group Limited 
                                (the "Company") 
 
                                   Litigation 
 
The Company wishes to announce certain developments in the litigation claim 
filed by The Cascade Fund, LLLP in which the Company is named as a defendant 
(the "Claim"). 
 
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. The plaintiff alleged successor 
liability against the Company on the basis of the Company's demerger from ACMH, 
and sought redress against the Company in the event that the Claim against ACMH 
is successful. ACMH and the Company filed separate motions to dismiss the Claim 
in October, 2008 and September 2009, respectively. 
 
As previously announced, on 31 March 2010, the United States District Court for 
the District of Colorado granted ACMH's motion to dismiss the Claim against ACMH 
and certain other defendants. The ruling did not consider the Company's motion 
to dismiss the Claim, which remained pending before the Court. 
 
The Company has learned that the plaintiff has filed a motion seeking leave of 
the Court to file an amended Claim. The amended Claim names ACMH, certain of its 
former executives and the Company as defendants. Like the previous Claim, the 
amended Claim makes no allegation as to the conduct of the Company's business or 
its management. The directors believe that the amended Claim is without merit 
and the Company intends to vigorously defend its position. 
 
Further announcements will be made as appropriate. 
 
 
 
 
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                     |                        | 
+------------------------------------+------------------------+ 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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