Business
SHAREHOLDER DEADLINE REMINDER: Scott+Scott Attorneys at Law LLP Informs Investors That a Securities Class Action Has Been Filed Against Argo Group International Holdings Ltd (ARGO)
Lead Plaintiff Deadline is December 19, 2022 New York, New York--(Newsfile Corp. - December 15, ...
About this update from Argo Graphene Solutions Corp.
[{"type":"text","content":"SHAREHOLDER DEADLINE REMINDER: Scott+Scott Attorneys at Law LLP Informs Investors That a Securities Class Action Has Been Filed Against Argo Group International Holdings Ltd (ARGO)Lead Plaintiff Deadline is December 19, 2022New York, New York--(Newsfile Corp. - December 15, 2022) - Scott+Scott Attorneys at Law LLP (\"Scott+Scott\"), an international shareholder and consumer rights litigation firm, reminds investors who purchased Argo Group International Holdings Ltd (NYSE: ARGO) (\"Argo\" or the \"Company\") securities between February 13, 2018 through August 9, 2022, inclusive (the \"Class Period\"), and who suffered damages, that the deadline to move for lead plaintiff in a securities class action lawsuit against Argo and certain other defendants is December 19, 2022. If you purchased Argo shares during the Class Period, you are encouraged to contact Scott+Scott attorney Jonathan Zimmerman at (888) 398-9312, or [email protected], for more information. CLICK HERE TO JOIN THIS CLASS ACTIONThe complaint was filed in the U.S. District Court for the Southern District of New York, Argo and certain of its directors and officers violated §§10(b) and 20(a) of the Securities and Exchange Act of 1934 (the \"Exchange Act\"). Argo underwrites international specialty insurance products in the property and casualty markets. Specifically, the Company claims to target \"niche\" markets in order to develop a leadership position and generate \"superior underwriting profits.\" Argo operates under two reporting segments, a U.S. segment and an International segment. The segment operating in the U.S. was historically considered Argo's \"crown jewel.\"In the U.S., Argo purports to be a leader in the Excess and Surplus lines (\"E&S\") focusing on risks that the standard market is unwilling or unable to underwrite. Due to the inherently risky nature of its specialty insurance business, investors valued the Company's ability to properly reserve for losses. Therefore, any statements about Argo's underwriting and reserve policies were highly material to investors.During the Class Period, Defendants assured investors that they had closely monitored Argo's policies and could set appropriate reserves. Defendants cultivated a narrative that Argo had a long history of successfully managing its reserves and the Company had a \"prudent res...