The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Eastern District of Virginia on behalf of shareholders of James River Group Holdings, Ltd. who purchased shares between August 1, 2019 and May 5, 2021.
The filed complaint alleges that defendants made materially 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 the Company’s true exposure to Uber claims; (3) as a result, James River 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’ statements about James River’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until September 7, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.