Law Offices of Howard G. Smith continues its investigation on behalf of Argo Group International Holdings, Ltd. (“Argo” or the “Company”) (NYSE: ARGO) investors concerning the Company’s possible violations of federal securities laws.
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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005626/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
