Markel Corporation. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Markel Corporation (NYSE: MKL) securities between July 26, 2017 and December 6, 2018.
According to the Markel lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (a) Markel lacked effective reporting controls and was not reporting its financial results in compliance with Generally Accepted Accounting Principles (“GAAP”); (b) the Company’s wholly-owned subsidiary Markel CATCo Investment Management Ltd. (“MCIM”) was not appropriately recording loss reserves; (c) as a result, MCIM’s loss reserves would need to be adjusted and/or restated; (d) these accounting practices would lead to regulatory scrutiny and financial loss to investors; and (e) as a result of the foregoing, defendants’ positive statements during the Class Period were materially false and misleading and/or lacked a reasonable basis.
If you suffered a loss in Markel you have until March 12, 2019 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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