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JRVR.US
id: 870

James River (JRVR) Internal Control Setback Case

S.D. New York
Court
1:23-cv-10000
Case number
07 Aug 2023
Class period Start
07 Nov 2023
Class period End
12 Jan 2024
Lead Plaintiff motion deadline
  • On Nov 8, 2023, James River revealed an accounting error, leading to overstatements in net income.
  • $JRVR dropped 7%, wiping out $37M of its shareholder value.
  • The first Investor filed a complaint against JR for concealing internal control problems.
James River revealed a financial error in its Q2 2023 statements, causing overstatements in net income and revealing internal control weaknesses.

This news caused a $JRVR fall by 7% and ~$37 million loss of market capitalization, damaging shareholders.

Given all this information, investors have reason to suspect that JRVR didn't disclose its internal control problems and misled about the financial state of the company.
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08 November 2023
Filing date
13 November 2023
Lead Plaintiff Deadline
12 January 2024
Judge
Hon. Lewis J. Liman
Collecting participants…

James River Group Holdings Ltd

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Exces...

    Ticker
    JRVR.US
    ISIN
    USG5005R1070
    CIK
    1620459
    Sector
    Financial Services
    Industry
    Insurance - Specialty
    Country
    USA
    Address
    Wellesley House, Pembroke, Bermuda, HM 08