BENSALEM, Pa.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24KINS&src=ctag” target=”_blank”gt;$KINSlt;/agt; lt;a href=”https://twitter.com/hashtag/classaction?src=hash” target=”_blank”gt;#classactionlt;/agt;–Law Offices of Howard G. Smith announces an investigation on behalf of
Kingstone Companies, Inc. (“Kingstone” or the “Company”) (NASDAQ: KINS)
investors concerning the Company and its officers’ possible violations
of federal securities laws.
On April 29, 2019, the Company disclosed $2.5 million charge to its
claims case reserves and $2.5 million charge to its IBNR reserves, based
on a “comprehensive review of [the Company’s] claims operations.” As a
result of the charges, the Company “expects to end the full year with a
combined ratio excluding catastrophe losses of 88% to 91% and
catastrophe losses of 4 to 5 points.”
On this news, the Company’s share price fell $2.07 per share, more than
15%, to close at $11.61 per share on April 30, 2019, thereby injuring
investors.
If you purchased Kingstone securities, have information or would like to
learn more about these claims, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected],
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com
