{"id":514239,"date":"2021-07-16T19:03:10","date_gmt":"2021-07-16T23:03:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-the-filing-of-a-securities-class-action-lawsuit-against-james-river-group-holdings-ltd\/"},"modified":"2021-07-16T19:03:10","modified_gmt":"2021-07-16T23:03:10","slug":"investor-alert-kirby-mcinerney-llp-announces-the-filing-of-a-securities-class-action-lawsuit-against-james-river-group-holdings-ltd","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-the-filing-of-a-securities-class-action-lawsuit-against-james-river-group-holdings-ltd\/","title":{"rendered":"INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against James River Group Holdings, Ltd."},"content":{"rendered":"

<\/p>\n

INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against James River Group Holdings, Ltd.<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nThe law firm of Kirby McInerney LLP<\/a> announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Virginia on behalf of those who acquired James River Group Holdings, Ltd. (\u201cJames River\u201d or the \u201cCompany\u201d) (NASDAQ: JRVR<\/a>) common stock from August 1, 2019 through May 5, 2021, inclusive (the \u201cClass Period\u201d). Investors have until September 7, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.\n<\/p>\n

\nOn October 8, 2019, after the market closed, James River disclosed it had delivered a notice of early cancellation of all policies issued to its largest customer, Rasier LLC, a subsidiary of Uber. On this news, James River\u2019s stock price declined by $11.06 per share, or approximately 22.6% from $48.94 per share to close at $37.88 per share on October 9, 2021.\n<\/p>\n

\nOn May 5, 2021, the Company announced its first quarter 2021 financial results, reporting $170 million of \u201cunfavorable development in Commercial Auto, primarily driven by a previously canceled account that has been in runoff since 2019.\u201d On this news, James River\u2019s stock price declined by $12.27 per share, or approximately 26.39%, from $46.50 per share to close at $34.23 per share on May 6, 2021.\n<\/p>\n

\nThe lawsuit alleges that, throughout the Class Period, Defendants made false and\/or misleading statements and\/or failed to disclose that: (1) James River had not adequately reserved for its Uber policies; (2) James River was using an incorrect methodology for setting reserves that materially understated its true exposure to Uber claims; (3) as a result, the Company was forced to increase its unfavorable reserves in subsequent quarters, even after cancelling the Uber policies; and (4) as a result of the foregoing, Defendants\u2019 statements about James River\u2019s business, operations, and prospects were materially false and\/or misleading and\/or lacked a reasonable basis.\n<\/p>\n

\nIf you purchased or otherwise acquired James River common stock, have information, or would like to learn more about these claims, please contact Thomas W. Elrod<\/a> of Kirby McInerney LLP<\/a> at 212-371-6600, by email at investigations@kmllp.com<\/a>, or by filling out this contact form<\/a>, to discuss your rights or interests with respect to these matters without any cost to you.\n<\/p>\n

Kirby McInerney LLP<\/a> is a New York-based plaintiffs\u2019 law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm\u2019s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP\u2019s website: http:\/\/www.kmllp.com<\/a>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210716005485\/en\/<\/a><\/span><\/p>\n

\nKirby McInerney LLP
\n
Thomas W. Elrod, Esq.
\n
212-371-6600
\n
https:\/\/www.kmllp.com
\n<\/a>
investigations@kmllp.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America New York<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against James River Group Holdings, Ltd. NEW YORK–(BUSINESS WIRE)– The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Virginia on behalf of those who acquired James River Group Holdings, Ltd. (\u201cJames River\u201d or the \u201cCompany\u201d) (NASDAQ: JRVR) common stock from August 1, 2019 through May 5, 2021, inclusive (the \u201cClass Period\u201d). Investors have until September 7, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. On October 8, 2019, after the market closed, James River disclosed it had delivered a notice of early … <\/p>\n

Continue reading “INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against James River Group Holdings, Ltd.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-514239","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nINVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against James River Group Holdings, Ltd. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-announces-the-filing-of-a-securities-class-action-lawsuit-against-james-river-group-holdings-ltd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against James River Group Holdings, Ltd. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"INVESTOR ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action Lawsuit Against James River Group Holdings, Ltd. NEW YORK–(BUSINESS WIRE)– The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Virginia on behalf of those who acquired James River Group Holdings, Ltd. (\u201cJames River\u201d or the \u201cCompany\u201d) (NASDAQ: JRVR) common stock from August 1, 2019 through May 5, 2021, inclusive (the \u201cClass Period\u201d). Investors have until September 7, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. 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