Kaskela Law LLC announces that it is investigating Hallmark Financial Services, Inc. on behalf of the Company’s stockholders.
Recently an amended shareholder securities fraud complaint was filed against Hallmark and certain of the Company’s senior executive officers on behalf of investors who purchased shares of Hallmark’s common stock between March 5, 2019 and March 17, 2020. According to the complaint, during that time period, although publicly representing that the Company’s loss reserve process was sufficient and accurate, Hallmark (i) was deliberately and systematically manipulated and understated loss reserves in order to overstate its reported net income and (ii) lacked effective internal accounting controls to prevent such manipulation.
The firm’s investigation seeks to determine whether the members of Hallmark’s board of directors breached their fiduciary duties to the Company and its stockholders in connection with the above alleged misconduct.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740