The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Virginia on behalf of investors who purchased James River Group Holdings, Ltd. (NASDAQ: JRVR) securities between August 1, 2019 and May 5, 2021.
According to the James River Group lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) James River had not adequately reserved for its Uber policies; (2) James River was using an incorrect methodology for setting reserves that materially understated the Company’s true exposure to Uber claims; (3) as a result, James River was forced to increase its unfavorable reserves in subsequent quarters even after cancelling the Uber policies; and (4) as a result of the foregoing, Defendants’ statements about James River’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
If you suffered a loss in James River Group you have until September 7, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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