{"id":11076,"date":"2022-11-28T17:49:57","date_gmt":"2022-11-28T17:49:57","guid":{"rendered":"https:\/\/marylanddailygazette.com\/argo-group-investor-alert-12-19-2022-plaintiff-deadline-in-securities-fraud-class-action-contact-lieff-cabraser\/"},"modified":"2022-11-28T17:49:57","modified_gmt":"2022-11-28T17:49:57","slug":"argo-group-investor-alert-12-19-2022-plaintiff-deadline-in-securities-fraud-class-action-contact-lieff-cabraser","status":"publish","type":"post","link":"https:\/\/marylanddailygazette.com\/argo-group-investor-alert-12-19-2022-plaintiff-deadline-in-securities-fraud-class-action-contact-lieff-cabraser\/","title":{"rendered":"ARGO GROUP INVESTOR ALERT: 12\/19\/2022 Plaintiff Deadline in Securities Fraud Class Action \u2013 Contact Lieff Cabraser"},"content":{"rendered":"

ARGO GROUP INVESTOR ALERT: 12\/19\/2022 Plaintiff Deadline in Securities Fraud Class Action \u2013 Contact Lieff Cabraser<\/a><\/p>\n

SAN FRANCISCO, CA \/ ACCESSWIRE \/ November 28, 2022 \/ <\/strong>National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP recommends that Argo Group International Holdings, Ltd. (\u201cArgo\u201d) (NYSE:ARGO) investors who bought or sold Argo common stock and suffered losses between February 13, 2018 and August 9, 2022<\/strong> contact our securities fraud practice group attorneys immediately for details about the pending securities fraud class action against Argo. The deadline to apply to be a lead plaintiff is December 19, 2022<\/strong>.<\/p>\n

\"Lieff<\/figure>\n

Class Period:<\/strong> February 13, 2018 \u2013 August 9, 2022<\/p>\n

Lead Plaintiff Motion Deadline:<\/strong> December 19, 2022<\/p>\n

Case information:<\/strong> https:\/\/www.lieffcabraser.com\/securities\/argo\/<\/a><\/p>\n

Contact us: <\/strong>Email or text <\/strong>[email protected]<\/span><\/a> or call 1-800-541-7358<\/p>\n

The securities class action alleges that Argo made materially false and misleading statements and omissions concerning the Company\u2019s ability to set appropriate reserves, changing of its underwriting policies, and writing of policies outside of its \u201ccore\u201d business.<\/p>\n

The truth was partially disclosed on February 8, 2022, when Argo announced that its fourth quarter results for 2021 would be negatively impacted by $130 million to $140 million in prior year reserve development and non-operating charges. The Company revealed that that the largest reserve increases were related to construction defect claims within Argo\u2019s U.S. Operations, in addition to reserve increases in the Run-off segment. Argo also admitted that the prior year reserve increase for construction defect primarily related to the 2017 and prior underwriting years in business lines that had either been significantly remediated or discontinued. On this news, the price of Argo common stock fell $7.11, or 13.71%, to close at $44.76 per share on February 9, 2022.<\/p>\n

On August 8, 2022, Argo announced that it had entered into a Loss Portfolio Transfer agreement with a wholly owned subsidiary of Enstar Group Limited covering a majority of the company\u2019s U.S. casualty insurance reserves. On August 10, 2022, a Raymond James analyst downgraded Argo\u2019s outlook and noted that Argo faced increasing uncertainty because it had taken on a $75 million loss corridor. On this news, the price of Argo\u2019s common stock declined $9.12 per share, or 28.3%, from an August 8, 2022 closing price of $32.22 to close at $23.10 per share on August 10, 2022.<\/p>\n

About Lieff Cabraser<\/strong><\/p>\n

Lieff Cabraser Heimann & Bernstein, LLP, with over 100 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a \u201cPlaintiffs\u2019 Powerhouse\u201d by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $124 billion in verdicts and settlements. Lieff Cabraser is committed to ensuring access to justice for all.<\/p>\n

SOURCE: <\/strong>Lieff Cabraser Heimann & Bernstein<\/p>\n

View source version on accesswire.com:
https:\/\/www.accesswire.com\/727041\/ARGO-GROUP-INVESTOR-ALERT-12192022-Plaintiff-Deadline-in-Securities-Fraud-Class-Action-Contact-Lieff-Cabraser<\/a><\/p>\n

Published Mon, 28 Nov 2022 08:35:52 -0600<\/p>\n","protected":false},"excerpt":{"rendered":"

ARGO GROUP INVESTOR ALERT: 12\/19\/2022 Plaintiff Deadline in Securities Fraud Class Action \u2013 Contact Lieff Cabraser SAN FRANCISCO, CA \/ ACCESSWIRE \/ November 28, 2022 \/ National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP recommends that Argo Group International Holdings, Ltd. (\u201cArgo\u201d) (NYSE:ARGO) investors who bought or sold Argo common stock and suffered […]<\/p>\n","protected":false},"author":3,"featured_media":11075,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/posts\/11076"}],"collection":[{"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/comments?post=11076"}],"version-history":[{"count":0,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/posts\/11076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/media\/11075"}],"wp:attachment":[{"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/media?parent=11076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/categories?post=11076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marylanddailygazette.com\/wp-json\/wp\/v2\/tags?post=11076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}