The Law Offices of Frank R. Cruz Announces Investigation of James River Group Holdings, Ltd. (JRVR) on Behalf of Investors

Business Wire

LOS ANGELES--(BUSINESS WIRE)--
The Law Offices of Frank R. Cruz announces an investigation of James River Group Holdings, Ltd. (“James River” or the “Company”) (NASDAQ: JRVR) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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On November 8, 2023, James River disclosed that it had “identified an error in the accounting for reinstatement premium on a specialty casualty reinsurance treaty in its Excess & Surplus Lines segment . . . in the Company’s previously issued condensed consolidated financial statements” and that this error resulted in “understatements of ceded written premium, and overstatements of net written premium and net earned premium of $9.4 million and $12.3 million for the three and six months ended June 30, 2023, respectively, and overstatements of net income of $7.8 million and $10.4 million for the three and six months ended June 30, 2023.”

On this news, James River’s stock price fell $0.99, or 7%, to close at $13.15 per share on November 8, 2023, thereby injuring investors.

If you purchased James River 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.