JRVR - Robbins LLP Reminds Investors of Lawsuit Against James River Group Holdings Ltd. and Approaching Lead Plaintiff Deadline | Benzinga
SAN DIEGO, Dec. 19, 2023 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action lawsuit on behalf of persons and entities that purchased or otherwise acquired James River Group Holdings, Ltd. (NASDAQ:JRVR) securities between August 7, 2023 and November 7, 2023. James River is an exempted holding company registered in Bermuda, organized for the purpose of acquiring and managing insurance and reinsurance entities.
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What is this Case About: James River Group Holdings, Ltd. (JRVR) Lacked Efficient Internal Controls Over Financial Reporting
According to the complaint, during the class period, defendants failed to disclose to investors that: (1) James River lacked effective internal controls regarding the recognition of reinstatement premiums for reinsurance; (2) as a result, the Company overstated its net income; and (3) the Company was reasonably likely to restate its financial results.
Plaintiff alleges that on November 7, 2023, the Company announced its third quarter 2023 financial results in ...