Reading Time: 2 minutes

NEW ORLEANS–(BUSINESS WIRE)–ClaimsFiler, a FREE shareholder information service, reminds investors that they have only until August 17, 2020 to file lead plaintiff applications in a securities class action lawsuit against ProAssurance Corporation (NYSE: PRA), if they purchased the Company’s shares between April 26, 2019 and May 7, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of Alabama.

Get Help

ProAssurance investors should visit us at https://www.claimsfiler.com/cases/view-proassurance-corporation-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

ProAssurance and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On May 8, 2020, following prior negative disclosures regarding the Company’s relationship with one of its very large clients, the Company disclosed that the client would likely not be renewing its policy but instead exercise an option for tail coverage that would result in an additional $50 million in losses for 2Q 2020.

On this news, the price of ProAssurance’s shares plummeted.

The case is Sheet Metal Workers Local 19 Pension Fund v. Proassurance Corporation, et al., 20-cv-856.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

Contacts

ClaimsFiler

Lewis Kahn, 844-367-9658

https://www.claimsfiler.com

Powered by WPeMatico