-

SHAREHOLDER ALERT: Robbins LLP Announces That James River Group Holdings, Ltd. (JRVR) Is Being Sued for Misleading Shareholders

SAN DIEGO & PEMBROKE, Bermuda--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP announces that a class action has been filed on behalf of all purchasers of James River Group Holdings, Ltd. (NASDAQ: JRVR) between August 1, 2019 and May 5, 2021, for violations of the Securities Exchange Act of 1934. James River owns and operates a group of specialty insurance and reinsurance companies.

If you suffered a loss due to James River Group Holdings, Ltd.'s misconduct, click here.

James River Group Holdings, Ltd. (JRVR) Misled the Investing Public Regarding the Impact of Uber on the Company's Reserves

According to the complaint, in 2014, James River entered into a novel agreement with Uber Technologies, Inc. to provide coverage for drivers while they were not providing transportation services for hire but were still logged on to their Uber application and available to accept a ride. Uber became James River's largest contract, accounting for more than 25% of the Company's premiums in 2019. Defendants assured investors that the Company was adequately reserved against its Uber policies. However, on October 8, 2019, claiming lack of profitability, James River announced it had delivered a notice of early cancellation, effective December 31, 2019, for all insurance policies issued to Uber, though the Company would remain contracted to provide coverage for future claims related to the period the Company's Uber polices were in effect. On this news, the Company's stock price declined $11.06 per share, or over 22%, on October 9, 2019.

Throughout the relevant period, defendants assured investors that James River's issues with Uber were in the past and the Company had adequately reserved. Notably, in April 2020, the Company claimed it had been "[f]reed of the burden of the large commercial auto account … that had come to so heavily influence our results," and that the Company "did not experience any material reserve development in our Commercial Auto line." Notwithstanding, on May 5, 2021, James Rivers disclosed an additional $170 million of unfavorable reserves related to the Uber policies. In order to cover its losses, the Company announced it was seeking to raise $175 million through a public equity offering, which was priced at "the sector's steepest discount ever" according to Bloomberg. On this news, the Company's price dropped $12.27 per share, or over 26%, to close at $34.23 per share on May 6, 2021.

If you purchased shares of James River Group Holdings, Ltd. (JRVR) between August 1, 2019 and May 5, 2021, you have until September 7, 2021, to ask the court to appoint you lead plaintiff for the class.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

Contact us to learn more:

Lauren Levi
(800) 350-6003
llevi@robbinsllp.com
Shareholder Information Form

Robbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against James River Group Holdings, Ltd. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Lauren Levi
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
llevi@robbinsllp.com
(800) 350-6003
www.robbinsllp.com

Industry:

Robbins LLP

NASDAQ:JRVR
Release Versions
English
$Cashtags
$JRVR
Hashtags
#JamesRiverGroupHoldings
#LawFirm
#Shareholder
#ShareholderRights
#StockMarket
#StockNews
#Stocks

Contacts

Lauren Levi
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
llevi@robbinsllp.com
(800) 350-6003
www.robbinsllp.com

More News From Robbins LLP

Investor Notice: Robbins LLP Informs Investors of the Klarna Group plc Securities Class Action

SAN DIEGO--(BUSINESS WIRE)--Robbins LLP informs stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Klarna Group plc (NASDAQ: KLAR) securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Klarna's September 10, 2025, initial public offering ("IPO"). Klarna purports to be a “technology-driven payments company, with operations spanning multiple countries.” For more information, submit...

CPNG Class Action Notice: Robbins LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Against Coupang, Inc.

SAN DIEGO--(BUSINESS WIRE)--Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Coupang, Inc. (NYSE: CPNG) securities between April 6, 2025 and December 16, 2025. Coupang describes itself as one of the fastest-growing technology and commerce companies in the world, providing retail, restaurant delivery, video streaming, and fintech services to customers around the world under brands that include Coupang, Coupang Eats, Cou...

Did You Lose Money in SFM? Stockholders Who Incurred Significant Financial Loss in Sprouts Farmers Market, Inc. Should Contact Robbins LLP to Learn About Leading the SFM Class Action Lawsuit

SAN DIEGO--(BUSINESS WIRE)--Robbins LLP: Company: Sprouts Farmers Market, Inc. (NASDAQ: SFM) is a specialty grocery store chain that operates in the U.S. What is the class period? June 4, 2025 - October 29, 2025. What is the case about? Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Sprouts Farmers Market, Inc. during the class period because the Company allegedly misled investors regarding its growth potential. For...
Back to Newsroom