The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Atlas Financial Holdings, Inc. (NASDAQ: AFH) who purchased shares between March 13, 2017 and March 2, 2018. The action, which was filed in the United States District Court for the Northern District of Illinois, alleges that the Company violated federal securities laws.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company failed to employ internal controls to ensure appropriate accounting practices; including, but not limited to, the calculation of certain loss reserves; (2) as a result, the Company’s internal controls over financial reporting were materially weak; (3) as a result the Company’s financial statements were inaccurate and misleading; and (4) as a result of the foregoing, Defendants’ statements about Atlas Financial’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Shareholders have until May 4, 2018 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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