NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against ProAssurance Corporation (NYSE: PRA) on behalf of ProAssurance stockholders. Our investigation concerns whether ProAssurance has violated the federal securities laws and/or engaged in other unlawful business practices.
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On January 22, 2020, 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 stock price fell as much as $4.81, or nearly 13%, on January 23, 2020, to close at $33.40 per share.
Then, on May 7, 2020, ProAssurance reported its financial results for the first quarter 2020, including total revenues down 2.6% from first quarter 2019 revenues and cutting the dividend from $0.31 per share to just $0.05 per share.
On this news, the price of ProAssurance shares fell $4.38, or 21.5%, to close at $15.95 on May 8, 2020.
If you purchased or otherwise acquired ProAssurance shares and suffered a loss, 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 Melissa Fortunato or Marion Passmore 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.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.