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Shareholder Alert: Pomerantz Law Firm is investigating claims on behalf of the investors of James River Group Holdings Limited.

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New YorkAnd 29 July 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of James River Group Holdings, Ltd. (“James River” or “the Company”) (NASDAQ: JRVR). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

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Fighting for Victims of Stock Fraud for Over 85 Years (PRNewsfoto/Pomerantz LLP)

Fighting for Victims of Stock Fraud for Over 85 Years (PRNewsfoto/Pomerantz LLP)

The investigation relates to whether James River Some of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

in 2014, James River Strengthened the Commercial Vehicle Division by underwriting a unused type of insurance policy covering Rasier LLC (“Rasier”), a subsidiary of Uber Technologies, Inc. (together with Rasier, “Uber”).

After the market closes in October 8, 2019And James River announces that it has delivered a valid beforetime cancellation notice December 31, 2019, for all insurance policies issued to Uber, although the Company will persevere to be under contract to provide coverage for coming claims relating to the period in which the Uber policies have been in effect (known as “runoff”).[the Uber] ha account[d] It does not meet our expectations for profitability.”

In response to these developments, James River The share price fell USD 11.06 per share or 22.59% to close at $37.88 per share on October 9, 2019.

then on May 5, 2021And James River Detect additional 170 million dollars from unfavorable reserves related to Uber’s policies. In a related conference call, James River It revealed that the increase was due to a change from using “industry data, pricing data, experience data, average claims intensity data, and blended methodologies” to “using only our loss experience in our paid and incurred backup forecasts…. [to calculate] A better and more cautious estimate of the final losses on this account. Meanwhile, in order to cover its losses, the company announced that it is seeking to increase 175 million dollars Through a public equity offering, which was priced at “the biggest discount in the sector ever” according to Bloomberg.

In this news, James River The share price fell 12.27 USD per share, or 26.38% of the closing price $46.50 per share on May 5, 2021, to close at $34.23 USD per share on May 6, 2021.

Pomerantz Corporation, with offices in New YorkAnd ChicagoAnd Los Angeles, And Paris Recognized as one of the leading companies in the areas of corporate, securities and antitrust litigation class. Founded by the late Abraham forPomerantz, known as the Dean of Class Action Bar, has been a leader in securities class litigation. Today, more than 80 years later, Pomerantz continues the tradition he founded, and fights for the rights of victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The company has recovered multiple multimillion-dollar damages on behalf of class members. See www.pomerantzlaw.com.

call:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

Cision

Cision

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SOURCE Pomerantz LLP

Referensi: finance.yahoo.com

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