Argo Group International Holdings, Ltd.

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Ademi LLP is investigating Argo (NYSE: ARGO) for possible breaches of fiduciary duty and other violations of law in its transaction with Brookfield Reinsurance.

Ademi LLP alleges Argo’s financial outlook and prospects are excellent and yet Argo shareholders will receive only $30 per share in an all-cash transaction valued at approximately $1.1 billion. The transaction agreement unreasonably limits competing bids for Argo by imposing a significant penalty if Argo accepts a superior bid. Argo insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Argo’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Argo.