StockMarketWire.com - Argo has been named as an additional defendant in a pre-existing lawsuit filed against ACMH Ltd.

The lawsuit has been filed in Colorado by an investor who is seeking redress against Argo following the demerger from ACMH, in the event that the lawsuit would be successful.

Argo says it has at all times been managed and operated independently from ACMH, with each group having separate fund managers, risk controls, prime brokers, custodians and administrators.

The claim makes no allegation as to the conduct of Argo's business or its management.

Argo's directors believe that the claim is without merit and Argo intends vigorously to defend its position.