NEW YORK, — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Atlas Financial Holdings, Inc. (“Atlas” or the “Company”) (NASDAQ: AFH) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Atlas securities between March 13, 2017, and March 2, 2018, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/afh.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) that the Company failed to employ internal controls to ensure appropriate accounting practices; including, but not limited to, the calculation of certain loss reserves; (2) that, as a result, the Company’s internal controls over financial reporting were materially weak; (3) that as a result the Company’s financial statements were inaccurate and misleading, including by understating certain loss reserves; and, (4) that, as a result of the foregoing, Defendants’ statements about Atlas Financial’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On March 2, 2018, Atlas announced it took a significant loss-reserve charge in the fourth quarter related to the Company’s commercial auto claims from 2015 and prior. On this news, the Company’s share price fell $7.70 or 40.96%, to close at $11.10 on March 2, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/afh or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Atlas you have until May 4, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.