NEW YORK, March 08, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Atlas Financial Holdings, Inc. (AFH). Our investigation concerns whether Atlas has violated the federal securities laws and/or engaged in other unlawful business practices.
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On March 4, 2019, Atlas issued a press release announcing, among other things, that “[a]ctuarial work conducted in connection with year-end indicated a need to increase reserve estimates for unpaid losses due primarily to bodily injury claims from accident years 2016 and prior.” Specifically, the company’s President and Chief Executive Officer stated that “[t]hese claims are showing higher severity and have been open for longer periods than we had estimated” and that Atlas had “strengthened reserves to account for the possibility of higher costs for the tail on these prior accident years.”
On this news, Atlas’s share price fell by more than 60%, closing at $2.66 on March 5, 2019.
If you purchased or otherwise acquired Atlas shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Atlas please go to https://bespc.com/afh/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.