The Law Offices of Frank R. Cruz continues its investigation of Argo Group International Holdings, Ltd. (“Argo” or the “Company”) (NYSE: ARGO) on behalf of investors concerning the Company’s possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On February 8, 2022, Argo issued a press release disclosing that its results for the fourth quarter of 2021 would be “negatively affected by adverse prior year reserve development and non-operating charges.” Specifically, Argo expects “net adverse prior year reserve development to be in the range of $130 million to $140 million.” The Company explained that the largest reserve increases were due to construction defect claims within Argo’s U.S. Operations and reserve increases in the run-off segment.
On this news, Argo’s stock fell $7.01, or 13.7%, to close at $44.10 per share on February 9, 2022, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Argo 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.