James River Group Holdings, Ltd. (NASDAQ: JRVR)

This lawsuit is for anyone who acquired securities in James River Group Holdings, Ltd. (NASDAQ: JRVR) from August 7, 2023 through November 7, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had sufficient controls in place to prevent erroneous accounting but then by overstating revenue.

On November 8, 2023, James River disclosed that it had “identified an error in the accounting for reinstatement premium on a specialty casualty reinsurance treaty in its Excess & Surplus Lines segment . . . in the Company’s previously issued condensed consolidated financial statements” and that this error resulted in “understatements of ceded written premium, and overstatements of net written premium and net earned premium of $9.4 million and $12.3 million for the three and six months ended June 30, 2023, respectively, and overstatements of net income of $7.8 million and $10.4 million for the three and six months ended June 30, 2023.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in James River Group Holdings, Ltd. (NASDAQ: JRVR) from August 7, 2023 through November 7, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.