NEW ORLEANS, March 23, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 4, 2018 to file lead plaintiff applications in a securities class action lawsuit against Atlas Financial Holdings, Inc. (NasdaqGM:AFH), if they purchased the Company’s securities between March 13, 2017, and March 2, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of Illinois.
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Atlas investors should visit us at https://www.claimsfiler.com/cases/view-atlas-financial-holdings-inc-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Atlas and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 1, 2018, the Company disclosed that, following “a comprehensive review of its reserves” it was substantially increasing its overall reserves “based on year-end actuarial work coupled with a detailed internal file audit for claims with reserves not established by the Company’s predictive analytics tools….”
On this news, the price of Atlas’ shares plummeted $7.70 per share, over 40%, to close at $11.10 per share on March 2, 2018, on unusually heavy trading volume.
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