NEW YORK–(BUSINESS WIRE)–#Action–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Argo Group International Holdings Ltd. (“Argo” or the “Company”) (NYSE: ARGO) on behalf of Argo stockholders. Our investigation concerns whether Argo has violated the federal securities laws and/or engaged in other unlawful business practices.
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On February 8, 2022, Argo announced that its results for the fourth quarter of 2021 will be negatively affected by adverse prior year reserve development and non-operating charges. Specifically, the Company expects net adverse prior year reserve development to be $130 million to $140 million for the quarter, the largest of which increases were related to construction defect claims within Argo’s U.S. operations and reserve increases in the run-off segment. In addition, Argo disclosed an expected goodwill and intangible assets charge of $40 million to $45 million for the quarter, related to Argo’s syndicate 1200 business unit.
On this news, Argo’s stock price fell sharply during intraday trading on February 9, 2022.
If you purchased or otherwise acquired Argo shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.