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New York, July 14, 2021 (Global News Agency)- , July 14, 2021- Bragar Eagel & Squire, PC is a nationally recognized shareholder rights law firm, reminding investors that the class action lawsuit has represented James River Group Holdings, Ltd. (NASDAQ:JRVR). Shareholders must apply to the court to serve as the lead plaintiff before the following deadline. Additional information about each case can be found in the links provided.
James River Group Holdings Limited (Nasdaq stock code:JRVR)
Class time: August 1, 2019 and May 5, 2021
Deadline for lead plaintiff: September 7, 2021
On October 8, 2019, after the market closed, James River disclosed that it had issued an early cancellation notice to its largest customer, Rasier LLC.
Affected by this news, the company’s stock price fell by US$11.06, or more than 23%, on October 9, 2019, to close at US$37.88 per share, hurting investors.
Then, on May 5, 2021, James River announced its financial results for the first quarter of 2021, reporting that “commercial vehicles experienced an unfavorable development of US$170 million, mainly due to the previously cancelled accounts since 2019. It has been at a loss since.” According to Bloomberg, The company announced that it is seeking to raise $175 million through a public equity offering, which is priced as “the largest discount ever in the industry.”
Affected by this news, the company’s stock price fell by US$12.27, or 26%, on May 6, 2021, to close at US$34.23 per share, further hurting investors.
The complaint filed stated that throughout the class action period, the defendant made material false and/or misleading statements and failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, the defendant failed to disclose to investors: (1) James River did not adequately reserve space for its Uber policy; (2) James River used the wrong method in setting reserves, which seriously underestimated the company’s The real risks of Uber’s claim; (3) Therefore, even after the cancellation of the Uber policy, James River was forced to increase its unfavorable reserves in the following quarters; (4) Therefore, the defendant’s statement on its business, operations and prospects All relevant times are materially false and misleading and/or lack reasonable basis.
For more information on Ubiquiti class actions, please visit: https://bespc.com/cases/JRVR
Orphazyme A/S (Nasdaq stock code:ORPH)
Class time: September 29, 2020 and June 18, 2021
Deadline for lead plaintiff: September 7, 2021
On March 29, 2021, Orphazyme issued a press release “Announcement[ing] Its Phase 2/3 trial evaluates amoclomol treatment…
The full story on Benzinga.com
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