BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of James River Group Holdings, Ltd. (“James River” or the “Company”) (NASDAQ: JRVR) investors concerning the Company’s possible violations of federal securities laws.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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