NEW ORLEANS, October 28, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF Associates, former Attorney General of Louisiana, Charles C. Foti, Jr.remind investors that they have up December 19, 2022 Lead Plaintiff’s Motions in a Securities Class Action Against Argo Group International Holdings, Ltd. ARGOif they bought the shares of the company between February 13, 2018 and August 9, 2022, inclusive (the “Class Period”). This action is pending in The United States District Court for the Southern District of new York.
What you can do
If you have purchased Argo stock and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you can contact KSF Managing Partner Lewis Kahn toll-free, without obligation and at no cost to you, at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-argo/ to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must file a petition with the court December 19, 2022.
About the lawsuit
Argo and certain of its officers are accused of failing to disclose material information during the Class Period in violation of federal securities laws.
On August 8, 2022the Company announced that it has 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 reserves and that it expects to recognize an after-tax charge of approximately 100 million dollars in connection with the transaction in the third quarter of 2022.
As a result of this news, shares of Argo stock fell about 28% from a closing price of $32.22 per share August 8, 2022 to a closing price of $23.10 per share 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,…
