INVESTOR ALERT: Law Offices of Howard G. Smith Continues Investigation on Behalf of ProAssurance Corporation (PRA) Investors
BENSALEM, Pa., May 15, 2020 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith continues its investigation on behalf of ProAssurance Corporation (“ProAssurance” or the “Company”) (NYSE: PRA) investors concerning the Company and its officers’ possible violations of federal securities laws.
On January 22, 2020, after the market closed, ProAssurance disclosed a $37 million charge to its loss reserves for fourth quarter 2019 due to "deteriorating loss experience, driven by a large national healthcare account."
On this news, the Company’s share price fell $4.18, or over 11%, to close at $33.40 per share on January 23, 2020, thereby injuring investors.
On May 7, 2020, ProAssurance announced its first quarter 2020 financial results, reporting 2.6% decline in total revenues over the prior year period, and slashed its dividend from $0.31 per share to just $0.05 per share.
On this news, the Company's share price fell $4.38, or over 21%, to close at $15.95 on May 8, 2020, thereby injuring investors further.
If you purchased ProAssurance securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
