NEW YORK, NY / ACCESSWIRE / August 8, 2020 / Pomerantz LLP is investigating claims on behalf of investors ProAssurance Corporation ("ProAssurance" or the "Company") (NYSE:PRA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether ProAssurance and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 22, 2020, post-market, 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, ProAssurance's stock price fell $4.18 per share, or over 11%, to close at $33.40 per share on January 23, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP