Argo Group Lawsuit ARGO | Deadline December 20, 2022
Argo Group Class Action Lawsuit (ARGO Lawsuit)
Investors who purchased or otherwise acquired Argo common stock during the period from February 13, 2018 through August 9, 2022 can register their information before the deadline of December 20, 2022.
Is Argo Group involved in a Securities Class Action Lawsuit?
Yes, a lawsuit has been filed against Argo Group on October 20, 2022, on behalf of shareholders during the period from February 20, 2018 through August 9, 2022.
What Is The Argo Group Lawsuit About?
The Argo Group Class Action Lawsuit (NYSE:ARGO) (Argo Group Class Action Lawsuit) was filed when on behalf of the investors who purchased Argo Group International Holdings, Ltd. (ARGO) securities between February 13, 2018, and August 9, 2022. For more on the ARGO Lawsuit please contact us today.
According to the Argo lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(1) Argo’s reserves were wholly inadequate and its underwriting standards were not prudent as was represented;
(ii) Argo had dramatically changed its underwriting policies on certain U.S. construction contracts as far back as 2018; and
(iii) these policies were underwritten outside of the Company’s “core” business including in certain states and for certain exposures that were far riskier than investors understood and that the Company no longer would service moving forward.
How much did ARGO drop?
Shareholders who held ARGO securities saw the stock declined to $42.82 per share, for a two-day drop of $9.05 per share, or 17.5%, wiping out over $315 million in market capitalization.
What does ARGO Do?
Argo Group International Holdings, Ltd. underwrites specialty insurance and reinsurance products in the property and casualty markets. The company operates in two segments, U.S. Operations and International Operations.
It offers primary and excess specialty casualty, general liability, commercial multi-peril, and workers compensation, as well as product, environmental, and auto liability insurance products; management liability, transaction liability, and errors and omissions liability insurance; primary and excess property, inland marine, and auto physical damage insurance; and surety, animal mortality, and ocean marine insurance products.
The company also provides directors and officers liability, errors and omissions liability, and employment practices liability insurance; international casualty and motor treaties insurance; professional indemnity and medical malpractice insurance; direct and facultative excess insurance, North American and international binders, and residential collateral protection for lending institutions; and personal accident, aviation, cargo, yachts, and onshore and offshore marine insurance products.
It markets its products through wholesale and retail agents, managing general agents, brokers, and third-party intermediaries.
The company was founded in 1948 and is headquartered in Pembroke, Bermuda.
Which Class Action Attorney Firm Can Help With The ARGO Lawsuit?
Levi & Korsinsky LLP is a Securities Class Action Law Firm. For over 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Does It Cost Me to Join the ARGO Class Action?
No, there are no out of pocket costs for you to join the Argo Group Lawsuit.
What Is the Lead Plaintiff Process?
According to the Private Securities Reform Act of 1995, any investor who bought or acquired ARGO securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The ARGO class-action lawsuit is directed by the lead plaintiff. To litigate the Argo Group Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the ARGO Class Action Lawsuit.
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