NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 19, 2022 to file lead plaintiff applications in a securities class action lawsuit against Argo Group International Holdings, Ltd. (NYSE: ARGO), if they purchased the Company’s shares between February 13, 2018 and August 9, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Argo and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-argo/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 19, 2022.
About the Lawsuit
Argo and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 8, 2022, the Company disclosed that it had entered into a Loss Portfolio Transfer agreement with a wholly owned subsidiary of Enstar Group Limited covering a majority of the company’s U.S. casualty insurance reserves and that it anticipated recognizing an after-tax charge of approximately $100 million in connection with the transaction in the third quarter of 2022.
On this news, shares of Argo stock plummeted approximately 28%, from a closing price of $32.22 per share on August 8, 2022 to a closing price of $23.10 per share on August 10, 2022.
The case is The Police & Fire Retirement System City of Detroit v. Argo Group International Holdings, Inc., Thomas A. Bradley, Scott Kirk, Kevin J. Rehnberg, Mark E. Watson, III and Jay S. Bullock, 1:22-cv-08971.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850