The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Argo Group International Holdings, Ltd. (NYSE: ARGO) who purchased common stock between February 13, 2018 and August 9, 2022. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
(1) Argo’s reserves were wholly inadequate and its underwriting standards were not prudent as was represented; (ii) Argo had dramatically changed its underwriting policies on certain U.S. construction contracts as far back as 2018; and (iii) these policies were underwritten outside of the Company’s “core” business including in certain states and for certain exposures that were far riskier than investors understood and that the Company no longer would service moving forward.
Shareholders have until December 20, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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