Overview

• James River Group Holdings, Ltd. is facing a class action securities lawsuit for alleged securities fraud between August 7, 2023 and November 7, 2023.
• The lawsuit alleges that the company made false statements and concealed that it lacked effective internal controls regarding the recognition of reinstatement premiums for reinsurance.
• As a result, the company is accused of overstating its net income and is likely to restate its financial results.
• The company's share price fell by 7% to close at $13.15 on November 8, 2023, following the announcement of its third quarter 2023 financial results and the disclosure of the accounting error.
• Investors have until January 12, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.