NEW ORLEANS, Oct. 25, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder data service, reminds traders that they’ve till December 19, 2022 to file lead plaintiff purposes in a securities class motion lawsuit in opposition to Argo Group International Holdings, Ltd. (NYSE: ARGO), in the event that they bought the Company’s shares between February 13, 2018 and August 9, 2022, inclusive (the “Class Period”). This motion is pending within the United States District Court for the Southern District of New York.
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Argo Group traders ought to go to us at https://claimsfiler.com/cases/nyse-argo/ or name toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC can be found to debate your authorized choices.
About the Lawsuit
Argo Group and sure of its executives are charged with failing to reveal materials data through the Class Period, violating federal securities legal guidelines.
On August 8, 2022, the Company disclosed that it had entered right into a Loss Portfolio Transfer settlement with an entirely owned subsidiary of Enstar Group Limited masking a majority of the corporate’s U.S. casualty insurance reserves and that it anticipated recognizing an after-tax cost of roughly $100 million in reference to the transaction within the third quarter of 2022.
On this information, shares of Argo inventory plummeted roughly 28%, from a closing worth of $32.22 per share on August 8, 2022 to a closing worth of $23.10 per share on August 10, 2022.
The case is The Police & Fire Retirement System City of Detroit v. Argo Group International Holdings, Inc., Thomas A. Bradley, Scott Kirk, Kevin J. Rehnberg, Mark E. Watson, III and Jay S. Bullock, 1:22-cv-08971.
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