NEW ORLEANS, Oct. 25, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, is reminding investors they have until December 19, 2022 Lead Plaintiff’s Motions in a Securities Class Action Against Argo Group International Holdings, Ltd. ARGOif you purchased the Company’s Shares between February 13, 2018 and August 9, 2022 inclusive (the “Class Period”). This lawsuit is pending in the United States District Court for the Southern District of New York.
get help
Argo Group investors should visit us at https://claimsfiler.com/cases/nyse-argo/ or call toll free (844) 367-9658. Kahn Swick & Foti, LLC attorneys are available to discuss your legal options.
About the lawsuit
Argo Group and certain of its officers are alleged to have failed to disclose material information during the Class Period in violation of federal securities laws.
On August 8, 2022, the Company 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’s US liability insurance provisions and that it expected to recognize an after-tax charge of approximately $100 million US dollars related to the transaction in the third quarter of 2022.
As a result of this news, shares of Argo stock fell approximately 28%, from a closing price of $32.22 per share on August 8, 2022 to a closing price 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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