The law firm of Kirby McInerney LLP is investigating potential claims against Argo Group International Holdings, Ltd. (“Argo” or the “Company”) (NASDAQ: ARGO). The investigation concerns whether Argo has violated the federal securities laws and/or engaged in other unlawful business practices.
Argo is a Bermuda-based international underwriter of specialty insurance products in the property and casualty market.
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, the price of Argo stock declined by $7.01 per share, or approximately 13.7%, from $51.11 per share to close at $44.10 on February 9, 2022.
If you purchased or otherwise acquired Argo securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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