Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois against Atlas Financial Holdings, Inc.
Lead Plaintiff Deadline is May 4, 2018
NEW YORK and CHICAGO, March 07, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired Atlas Financial Holdings, Inc. (NASDAQ:AFH) securities between March 13, 2017 and March 2, 2018 (the “Class Period”).
Investors who have incurred losses in Atlas Financial Holdings, Inc. shares of are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the shares of Atlas Financial Holdings, Inc. and would like to assist with the litigation process as a lead plaintiff, you may, no later than May 4, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Atlas Financial Holdings, Inc.
The filed complaint alleges that Defendants failed to disclose:
- that the Company failed to employ internal controls to ensure appropriate accounting practices; including, but not limited to, the calculation of certain loss reserves;
- that, as a result, the Company's internal controls over financial reporting were materially weak;
- that as a result the Company's financial statements were inaccurate and misleading, including by understating certain loss reserves, and;
- that 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.
On March 2, 2018, Atlas Financial Holdings, Inc. announced that it took a significant loss-reserve charge in the fourth quarter related to certain claims from 2015 and prior years. Following this news, the Company's share price fell $7.70 per share, or over 40%, to close at $11.10 per share on March 2, 2018.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
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Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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