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    Kessler Topaz Meltzer & Checker, LLP  109  0 Kommentare Final Deadline Reminder for James River Group Holdings, Ltd. Investors – JRVR

    The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors of deadline in securities fraud class action lawsuit filed against James River Group Holdings, Ltd. (NASDAQ: JRVR) (“James River”) on behalf of those who purchased or acquired James River common stock between August 1, 2019 and May 5, 2021, inclusive (the “Class Period”).

    Deadline Reminder: Investors who purchased or acquired James River common stock during the Class Period may, no later than September 7, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll free at (844) 887-9500; via e-mail at info@ktmc.com; or click https://www.ktmc.com/james-river-class-action-lawsuit?utm_source=PR&am ...

    James River is a holding company that owns and operates a group of specialty insurance and reinsurance companies. Its largest segment, Excess and Surplus (“E&S”) Lines insurance, focuses on insureds that generally cannot purchase insurance from standard lines insurers due to perceived risks related to their businesses. Included in this E&S Lines segments is James River’s Commercial Auto Division. In 2014, James River ramped up its Commercial Auto Division by underwriting a new type of insurance policy that covered Rasier LLC (“Rasier”), a subsidiary of the ride-sharing company, Uber Technologies, Inc. (together with Rasier, “Uber”). Until that time, ride-sharing insurance had only covered claims incurred while ride-sharing drivers were transporting passengers for Uber, thus leaving a gap in coverage for accidents caused by ride-sharing drivers while they were not providing transportation services for hire but were still logged on to the Uber applications and available to accept a ride. Uber was James River’s largest contract and accounted for more than 25% of its premiums in 2019.

    The Class Period commences on August 1, 2019, the day after James River issued a press release after market hours that reported “unfavorable reserve development of $2.3 million compared to unfavorable reserve development of $2.2 million in the prior year,” which included $1.2 million of unfavorable reserve development in the E&S Lines segment. At the beginning of the Class Period, the defendants assured investors that James River was adequately reserved against its Uber policies and that the defendants were “comfortable” with James River’s E&S Lines reserves. However, after the market closed on October 8, 2019, James River announced that it had delivered a notice of early cancellation, effective December 31, 2019, for all insurance policies issued to Uber, though James River would remain contracted to provide coverage for future claims related to the period the Uber polices were in effect. Throughout the Class Period, the defendants repeatedly assured investors that the legacy contract posed no challenges to James River.

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    Kessler Topaz Meltzer & Checker, LLP Final Deadline Reminder for James River Group Holdings, Ltd. Investors – JRVR The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors of deadline in securities fraud class action lawsuit filed against James River Group Holdings, Ltd. (NASDAQ: JRVR) (“James River”) on behalf of those who purchased or acquired …