LOS ANGELES–(BUSINESS WIRE)–$ARGO—Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Argo Group International Holdings, Ltd. (“Argo” or the “Company”) (NYSE: ARGO) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On October 8, 2019, Bloomberg reported that the Company had been subpoenaed by the U.S. Securities and Exchange Commission regarding its disclosures about executive compensation. The investigation follows concerns raised by Voce Capital Management that Argo and its Chief Executive Officer (“CEO”) Mark Watson misused corporate assets, such as aircraft and housing.
On this news, the Company’s stock price fell $1.46 per share, or over 2%, to close at $65.85 per share on October 9, 2019, thereby injuring investors.
On November 5, 2019, the Company announced that its CEO had retired, effective immediately, and would resign from the Board of Directors, effective December 30, 2019.
On this news, the Company’s stock price fell sharply during after-hours trading on November 5, 2019.
If you purchased Argo 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 Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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