Scottish Re Group Ltd Perp Pfd (SKRUF)

[Enterprising Investor]

Davis v. Scottish Re Group Limited, et al.

On April 25, 2016, the plaintiff filed a motion with appellate court, seeking permission to appeal the dismissal of three derivative breach of fiduciary duty claims to the New York Court of Appeals. The Director Defendants who remain in the case and SRGL’s shareholders and certain of their affiliates have until May 12, 2016 to file an opposition to plaintiff’s motion. The plaintiff has until May 18, 2016 to file a reply brief in further support of his motion.

Notwithstanding the appellate court’s March 10, 2016 decision remanding the matter to the trial court to allow the plaintiff to replead only two breach of fiduciary duty claims against the remaining Director Defendants, on May 3, 2016, the plaintiff filed an amended complaint with the trial court in which the plaintiff repleaded eight of the original ten claims, removing two of the original claims and adding a new claim against certain of the Defendant Parties. The Director Defendants have until June 7, 2016 to file a Motion to Dismiss the repleaded breach of fiduciary duty claims. Plaintiff has until July 14, 2016 to file a brief in opposition to any motion to dismiss filed by the Director Defendants. The Director Defendants have until August 5, 2016 to file a reply brief in further support of any motion to dismiss the amended complaint. We anticipate that the deadline governing the Defendant Parties’ responses to the amended complaint will also be June 7, 2016.