James River Commences Litigation Against Fleming Intermediate Holdings to Enforce Stock Purchase Agreement
PEMBROKE, Bermuda, March 11, 2024 (GLOBE NEWSWIRE) — James River Group Holdings, Ltd. (“James River” or the “Company”) (NASDAQ:JRVR) announced that it has filed a complaint in the Supreme Court, New York County, Commercial Division against Fleming Intermediate Holdings (“Fleming”), a portfolio company of private equity sponsor Altamont Capital Partners. The action seeks specific performance of Fleming’s obligation to complete the acquisition of JRG Reinsurance Company Ltd. (“JRG Re”) in accordance with the Stock Purchase Agreement (the “SPA”) between the parties as of November 8, 2023. James River will seek expedited relief from the Court to require Fleming to close the transaction.