NEW ORLEANS, June 19, 2020 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 17, 2020 to file lead plaintiff applications in a securities class action lawsuit against ProAssurance Corporation (NYSE: PRA), if they purchased the Company's shares between April 26, 2019 and May 7, 2020, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of Alabama.
What You May Do
If you purchased shares of ProAssurance 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-pra/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 17, 2020.
About the Lawsuit
ProAssurance and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 8, 2020, following prior negative disclosures regarding the Company's relationship with one of its very large clients, the Company disclosed that the client would likely not be renewing its policy but instead exercise an option for tail coverage that would result in an additional $50 million in losses for 2Q 2020.
On this news, the price of ProAssurance's shares plummeted.
The case is Sheet Metal Workers Local 19 Pension Fund v. Proassurance Corporation, et al., 20-cv-856.
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 to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC