NEW YORK–(BUSINESS WIRE)–$JRVR #classactionlawsuit–The law firm of Kirby McInerney LLP is investigating potential claims against James River Group Holdings, Ltd. (“James River” or the “Company”) (NASDAQ: JRVR). The investigation concerns whether James River and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
James River owns and operates a group of specialty insurance and reinsurance companies. The Company includes excess and surplus lines, specialty admitted insurance, and casualty reinsurance segments.
On November 8, 2023, James River disclosed that the Company identified an error in its accounting for reinstatement premium on a specialty casualty reinsurance treaty in its Excess & Surplus Lines segment from the Company’s previous financial statement. As a result, the Company previously overstated its net written and earned premiums of $9.4 million and $12.3 million, respectively, for the second quarter of 2023. Additionally, the Company previously overstated its net income of $7.8 million and $10.4 million for the second quarter of 2023, due to its accounting error. On this news, the price of James River shares declined by $0.99 per share, or approximately 7%, from $14.14 per share to close at $13.15 on November 8, 2023
If you purchased or otherwise acquired James River securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s 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’s website: https://www.kmllp.com.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
[email protected]
