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AFHIQ.US

Atlas Financial Holdings, Inc. (AFH) $5M Investor Settlement

Claim deadline for this case already passed by, but we can still try and file for compensation for you
N.D. Illinois
Court
1:18-cv-01640
Case number
22 Feb 2017
Class period Start
30 Apr 2019
Class period End
10 Oct 2023
Claim deadline
Atlas Financial Holdings, Inc. (AFH) settles $5 million with investors.

The initial complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose:
  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.

All Persons and entities that during the period from February 22, 2017, through April 30, 2019, inclusive, purchased or otherwise acquired Atlas Common Stock, and/or Atlas Notes, and/or Atlas Call Options, and/or wrote Atlas Put Options, and were damaged thereby, can be entitled to the payout.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.59
Filing date
05 March 2018
Plaintiffs
Philip Fryman, Aram Hovasapyan, Chuan Ji
Attorneys
Glancy Prongay & Murray LLP (Los Angeles, CA), Law Offices of Howard G. Smith (Bensalem, PA), Lawrence Kamin, LLC (Chicago, IL)
Defendants
Scott D. Wollney, Paul A. Romano
Judge
Hon. Ruben Castillo
Administrator
EPIQ
Court hearing date
06 September 2023
Exclusion deadline
16 August 2023
Objection deadline
16 August 2023
Hearing deadline
16 August 2023
Trades matching type
FIFO
+$5,000,000
Total Settlement Amount
Created by Stan Vick, Scout

Atlas Financial Holdings Inc

Atlas Financial Holdings, Inc., through its subsidiary, Anchor Group Management, Inc., engages in generating, underwriting, and servicing of commercial automobile insurance in the United States. Th...

    Ticker
    AFHIQ.US
    CIK
    1539894
    Sector
    Financial Services
    Industry
    Insurance - Property & Casualty
    Country
    USA
    Address
    953 American Lane, Schaumburg, IL, United States, 60173