Athene And Siddiqui Reach Settlement In Case
Athene Holding Ltd and Imran Siddiqui jointly announced that “they have resolved the legal proceedings commenced by Athene against Mr. Siddiqui and Caldera Holdings Limited in May 2018 in the Supreme Court of Bermuda.”
The announcement said, “As part of this resolution, Mr. Siddiqui agreed to make the following statement: Athene has compromised its claim with Mr Siddiqui and Caldera Holdings Limited. The terms of settlement are confidential.
“However, Mr Siddiqui has agreed as part of that agreement to acknowledge that in 2016 and 2017, he sent and received documents which contained information which was confidential to Athene in connection with the establishment of Caldera, a competitive company he was trying to set up.
“Mr Siddiqui acknowledges that, in behaving in this way, he breached fiduciary duties which he owed to Athene. Mr Siddiqui did not think that at the time, but on reflection he now acknowledges that he should have known that sending and receiving the documents that he did was a breach of his obligations.”
The parties noted that they “will not comment further on this matter.”
