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which it can reasonably be inferred that this “something” was knowable and that the

defendant was in a position to know it.113

Here, the Litigation Trust does not come close to pleading particularized facts

supporting its fraud claim. The complaint just cursorily states that the directors of both

parent and subsidiary acted together to:

fraudulently conceal (a) [Trenwick America’s] financial condition from 2000 to 2003; (b) the financial condition and reserve level problems at Chartwell prior to the 1999 merger; (c) the true nature of the intercompany payable supposedly due to Trenwick by Chartwell; (d) the actual value of the LaSalle transaction; and (e) the true value of the various TGI

subsidiaries transferred between companies during the restructuring done

preparation

for

the

LaSalle

merger.114

As

directors

and/or

officers

[Trenwick] and [Trenwick America], these disclose this information to Plaintiff. Plaintiff its detriment.115

defendants had a duty relied on these omissions

in of to to

In addition, the Litigation Trust complains that the Trenwick directors also committed

fraud when they made material misstatements of facts, which Trenwick America relied

on, in August 2000:

(a) stating that the “Chartwell acquisition had been beneficial and was expected to result in cost savings; (b) overstating the amount of intercompany loans given by [Trenwick]; and (c) claiming that the LaSalle acquisition would make Trenwick more competitive in all three of its major markets. 116

These allegations are precisely the sort of unspecific, broad-brush generalities that

Rule 9(b) is intended to preclude from serving as a basis for a fraud claim. Notably

absent from the complaint are particularized allegations identifying what aspects of

114

Compl. ¶ 125.

115

at ¶ 126.

69

, 1998 WL 914265, at *4.

113

116

. ¶ 127.

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