Market Newsdesk

December 19, 2020 9:17 am

Zhang Investor Law Alerts Investors to Deadline in Securities Class Action Lawsuit Against Neovasc Inc. – NVCN

NEW YORK, Dec. 19, 2020 (GLOBE NEWSWIRE) — Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Neovasc Inc. (NASDAQ: NVCN) between November 1, 2019 and October 27, 2020, inclusive (the “Class Period”).

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=neovasc-inc&id=2476 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email [email protected] for information on the class action.

如果您想加入这个集体诉讼案，请在这里提交您的信息。http://zhanginvestorlaw.com/join-action-form/?slug=neovasc-inc&id=2476

If you wish to serve as lead plaintiff, you must move the Court before January 5, 2021 DEADLINE. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things: the results of COSIRA, Neovasc’s clinical study for the Reducer, contained imbalances in missing information present in the control group versus the treatment group, including significant missing information for secondary endpoints but none for the primary endpoint; the imbalance in missing information indicated that control subjects were aware of their treatment assignment (not blinded) and less inclined to participate in additional data collection; blinding is critical when studying a placebo-responsive condition such as angina; the lack of blinding assessment made the primary endpoint difficult to interpret; as a result of the foregoing, the FDA was reasonably likely to require additional premarket clinical data; as a result, the Company’s Premarket Approval application (PMA) for Reducer was unlikely to be approved without additional clinical data; and as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.

Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
[email protected]
tel: (800) 991-3756

December 19, 2020 9:10 am

FedEx to Ship First Wave of Moderna COVID-19 Vaccines Across the United States

FedEx to Ship First Wave of Moderna COVID-19 Vaccines Across the United States

Company to begin transporting first Moderna COVID-19 vaccine shipments for McKesson Corp.

MEMPHIS, Tenn.–(BUSINESS WIRE)–
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, announced today that operations are in motion to transport Moderna’s COVID-19 vaccines for McKesson Corp. throughout the United States.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201219005006/en/

Following the Food and Drug Administration’s approval of Emergency Use Authorization for the Moderna COVID-19 vaccine, FedEx Express will begin transport of the vaccine and kits of supplies for administration of the vaccine, using its FedEx Priority Overnight^® service supported by FedEx Priority Alert^® advanced monitoring. After months of preparation and close planning with McKesson, Operation Warp Speed and state and local officials, the COVID-19 vaccines will begin moving to dosing centers throughout the United States. FedEx continues to work closely with its healthcare customers on plans for additional vaccine shipments and the transportation of critical vaccine-related supplies.

The FedEx network began actively delivering Pfizer-BioNTech vaccine shipments across the U.S. last week. The company is set to begin vaccine shipments throughout Canada as early as next week and is also preparing to begin delivering vaccines to other countries. FedEx is well-positioned to handle COVID-19 vaccine shipments around the world with temperature-control solutions, near real-time monitoring capabilities, and a dedicated healthcare team to support the express transportation of vaccines and bioscience shipments.

“The shipment of vaccines to help end the COVID-19 pandemic is among the most important work in the history of FedEx, and our team is focused on the safe and efficient delivery of these critical shipments,” said Raj Subramaniam, president and chief operating officer, FedEx Corp. “As we have said since the onset of the pandemic and our relief efforts, this is who we are and what we do.”

Transportation of COVID-19 vaccines is the next phase of ongoing FedEx efforts to support pandemic relief around the world. FedEx has a long history of supporting relief efforts when disasters strike, using its network and expertise to deliver for good.

“The FedEx team and network are uniquely positioned to deliver on this mission in the U.S. and around the world,” said Don Colleran, president and chief executive officer, FedEx Express. “The transportation of vaccines continues our ongoing work since the beginning of the pandemic to keep critical supply chains operating, meet the increased demands for residential delivery and deliver more than 9,600 humanitarian aid shipments around the globe.”

To help reach underserved communities with the COVID-19 vaccine, FedEx has committed $4 million in cash and in-kind transportation support to several nonprofits serving communities in the U.S. and around the world. These include Direct Relief, International Medical Corps, and Heart to Heart International.

“FedEx Express has deep relationships and decades of experience delivering for our healthcare customers,” said Richard W. Smith, regional president of the Americas and executive vice president of global support, FedEx Express. “Our service and network were built for this moment. Coupled with our investments in advanced technology, we are ready to support McKesson and Moderna in this historic effort to help end the pandemic.”

About the technology:

At FedEx, the information about the package is as important as the package itself as it moves through the network. FedEx SenseAware ID, a Bluetooth low-energy sensor device, will be affixed to vaccine shipments, helping to ensure these temperature-sensitive deliveries move swiftly and safely through the FedEx Express U.S. network with FedEx Priority Overnight service. From origin to destination, dedicated FedEx Priority Alert customer support agents are using SenseAware monitoring technology to track the location of vaccine shipments in near real-time. This technology is complemented by the FedEx Surround platform, which leverages artificial intelligence and predictive tools to proactively monitor conditions surrounding the packages, allowing customer support agents to intervene if weather or traffic delays threaten to impede delivery times.

Quick stats about the FedEx network:

Built over 47 years, the FedEx network consists of more than 5,000 facilities, 680 aircraft, 200,000 vehicles, and – most importantly – nearly 600,000 dedicated team members worldwide.
At present, FedEx Express operates nearly 32,000 flights per month, and roughly half are flown by widebody aircraft.
FedEx Express has more than 90 cold chain facilities across five continents with plans to open additional facilities in coming years.
To the extent vaccine shipments may require the use of dry ice, FedEx Express is capable of safely handling those volumes. FedEx Express transports approximately 500,000 dry ice shipments a month.

About FedEx Corp.

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $75 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its nearly 600,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201219005006/en/

Isabel Rollison

901-434-8100

KEYWORDS: Tennessee United States North America

INDUSTRY KEYWORDS: Trucking Health Infectious Diseases Transport Logistics/Supply Chain Management Pharmaceutical

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December 19, 2020 8:08 am

iQIYI’s ‘Mist Theater’ Goes Global, to Be Aired in South Korea, Australia and Vietnam

Hit Drama ‘The Bad Kids’ to be aired through CHANNEL A in South Korea and SBS Viceland in Australia

PR Newswire

BEIJING, Dec. 19, 2020 /PRNewswire/ — iQIYI Inc. (NASDAQ: IQ) (“iQIYI” or the “Company”), an innovative market-leading online entertainment service in China, is pleased to announce that it has recently entered into agreements with TV networks in South Korea and Australia to broadcast the suspense thriller “The Bad Kids”, a series from iQIYI’s Mist Theater content library. The suspense series was aired on CHANNEL A, a South Korean mainstream TV network, in December, making it the first Chinese modern drama to be shown on the channel.

“The Bad Kids” is also scheduled to air on SBS Viceland, an Australian free-to-air TV network, and SBS On Demand in 2021. The agreements mark major milestones for iQIYI and Mist Theater, further raising the expectations for Chinese suspense drama series in the overseas markets following its successful overseas debut in multiple markets.

To date, Mist Theater has been successfully distributed to overseas market such as Japan, Singapore, Malaysia and Vietnam, as well as Hong Kong and Macao. In addition, distribution rights of multiple dramas under Mist Theater have been sold for Japan. “The Bad Kids” was acquired by WOWOW, Japan’s first private satellite pay-TV network while “The Long Night” was purchased by NHK Enterprises. The remaining two titles, “Crimson River” and “Sisyphus”, will be aired on local channels.

In Southeast Asia, Singapore’s pay-TV network Singtel has aired “Kidnapping Game,” “Sisyphus” and “The Long Night.” Meanwhile, all five Mist Theater titles are currently airing on the iQIYI HD channel on Astro, Malaysia’s top media brand. Vietnam’s premium pay-TV network VSTV has acquired the entire Mist Theater series and plans to promote and broadcast the series under specific time-belt on K+ channels. NOW TV, a mainstream pay-TV network in Hong Kong and Macao SARs of China, acquired three titles, namely “Kidnapping Game,” “The Bad Kids” and “The Long Night.”

As Mist Theater goes global and becomes more widely received in overseas markets, it is transforming perceptions of original Chinese content and further increasing their influence. This sets a milestone for Chinese suspense thrillers as they expand into new overseas markets and for Chinese media companies exploring the global operation and distribution.

Mist Theater has received widespread acclaim from critics and viewers alike, both in China and in overseas markets. The Guardian, The Economist, South China Morning Post, Content Commerce Insider and other overseas media have applauded the superb quality of Mist Theater, recognizing it as a trailblazer in Chinese original content creation for its higher quality episodes, innovative storylines and outstanding performances. “The Bad Kids” recently became the first Chinese TV series to win the “Best Creative” award at the 2nd Asia Contents Awards under Busan International Film Festival 2020.

View original content to download multimedia:http://www.prnewswire.com/news-releases/iqiyis-mist-theater-goes-global-to-be-aired-in-south-korea-australia-and-vietnam-301196331.html

SOURCE iQIYI

December 19, 2020 8:03 am

Zhang Investor Law Alerts Investors of Deadline in Securities Class Action Lawsuit Against Interface, Inc. – TILE

NEW YORK, Dec. 19, 2020 (GLOBE NEWSWIRE) — Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Interface, Inc. (NASDAQ: TILE) between March 2, 2018 and September 28, 2020, inclusive (the “Class Period”).

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=interface-inc&id=2486 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email [email protected] for information on the class action.

如果您想加入这个集体诉讼案，请在这里提交您的信息。http://zhanginvestorlaw.com/join-action-form/?slug=interface-inc&id=2486

If you wish to serve as lead plaintiff, you must move the Court before the January 11, 2021 DEADLINE. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Interface had inadequate disclosure controls and procedures and internal control over financial reporting; (2) consequently, Interface, among other things, reported artificially inflated income and earnings per share (EPS) in 2015 and 2016; (3) Interface and certain of its employees were under investigation by the SEC with respect to the foregoing since at least November 2017, had impeded the SEC’s investigation, and downplayed the true scope of the Company’s wrongdoing and liability with respect to the SEC investigation; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.

Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
[email protected]
tel: (800) 991-3756

December 19, 2020 8:03 am

Local Entrepreneur Brings Smartphone Repair Franchise to Holland

Electronics Repair Business Keeps Community Connected

HOLLAND, Ohio, Dec. 19, 2020 (GLOBE NEWSWIRE) — Electronics repair shop uBreakiFix opened on Monday, Dec. 14, in Holland at 6819 Spring Valley Drive. The store offers repairs on smartphones, tablets, computers, and more to help the community stay connected.

uBreakiFix Holland is owned by Craig Parsons. The local entrepreneur owns uBreakiFix locations in Findlay and Perrysburg with plans to open a fourth location in the Toledo area.

“I couldn’t be more proud to bring reliable, high quality technology repair to Holland,” Parsons said. “We realize that a broken device is more than just inconvenient right now. Technology is many people’s connection to school, work, family, and more, and we’re dedicated to providing efficient device repairs with excellent, kind customer service.”

uBreakiFix offers repair service on anything with a power button, from smartphones, tablets, and computers to drones, hoverboards, and game consoles. To date, uBreakiFix has completed more than 10 million repairs at more than 600 locations across North America. While common fixes include shattered screens, software issues, and camera issues, the brand offers support for most technical problems on any electronic device, regardless of make or model.

“At uBreakiFix, we believe our work is defined by helping our community,” Parsons said. “We are prepared to be the support people need to stay connected to their livelihoods. Whether a customer needs their computer fixed for work or school, or needs help backing up photos of their grandchildren, we’re here to help.”

uBreakiFix was founded in 2009 by millennial entrepreneurs Justin Wetherill and David Reiff to fill a gap in the market for affordable, high-quality phone repair. The duo soon partnered with Eddie Trujillo to transition their Internet-based repair brand to a brick-and-mortar model. uBreakiFix began franchising in 2013 and currently operates more than 600 locations across the U.S. and Canada.

“At uBreakiFix, our story has been shaped by an unwavering commitment to continually improving the repair experience for customers,” Wetherill said. “We founded this company to fill a need for high-quality, convenient repair with great service at a fair price. We always say we’re a customer service company first, and a tech company second. As we begin serving Holland and the surrounding communities, we look forward to sharing the care and credibility that define the uBreakiFix experience.”

For more information and to view a service menu, visit ubreakifix.com/locations/holland. uBreakiFix Holland is located at:

uBreakiFix

6819 Spring Valley Drive Holland, Ohio 43528

(567) 777-0220

About uBreakiFix

Founded in 2009, uBreakiFix specializes in the repair of small electronics, ranging from smartphones, game consoles, tablets, computers, and everything in between. Cracked screens, software issues, camera issues, and most other problems can be repaired by visiting uBreakiFix stores across the U.S. and Canada. Since 2016, uBreakiFix has served as the exclusive walk-in repair partner for Google Pixel customers. In 2018, uBreakiFix became a Samsung Care authorized service provider offering same-day, in-person support for Samsung Galaxy customers across the U.S. In 2019, uBreakiFix joined the Asurion family and now operates as a subsidiary of the tech care company while still maintaining the uBreakiFix leadership team and franchise model. For more information, visit

ubreakifix.com

.

For more information, contact:

Ellie Holt
(229) 869-5305
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ae403827-78ec-45a3-b4b3-274eda7a509f

December 18, 2020 11:33 pm

CD PROJEKT SA CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating a potential securities class action lawsuit against CD Projekt SA

NEW YORK, Dec. 18, 2020 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces an investigation of potential securities claims on behalf of shareholders of CD Projekt S.A. (OTC: OTGLY, OTGLF) (the “Company”) resulting from allegations that CD Projekt may have issued materially misleading information to their shareholders and investing public.

All investors who purchased the American Depositary Receipts (“ADR’s”) of CD Projekt SA and incurred losses are urged to contact the firm immediately at

[email protected]

or (800) 575-0735 or (212) 545-4774.

If you have incurred losses in the ADR’s of CD Projekt SA, please contact Wolf Haldenstein to learn more about your rights as an investor in CD Projekt SA.

On December 18, 2020, Market Insider reported that “Sony announced on Friday that it was pulling [Cyberpunk 2077] from its PlayStation Store and offering full refunds to players following a wave of complaints about the long-awaited title.” The Market Insider report also quoted the Company’s co-CEO stating during an analyst call that “[a]fter three delays, we were too focused on releasing the game,” and “[w]e ignored signals about the need for additional time to refine the game on the base last-gen consoles.”

On this news, the Company’s share price fell $3.49 per ADR, or 15%, to close at $18.50 per ADR on December 18, 2020.

Wolf Haldenstein 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 ongoing situation, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

December 18, 2020 10:53 pm

NAVIENT INVESTIGATION UPDATE BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Navient Corporation – NAVI

PR Newswire

NEW ORLEANS, Dec. 18, 2020 /PRNewswire/ — Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Navient Corporation (NasdaqGS: NAVI).

Throughout 2017 and 2018, Navient was sued in several civil lawsuits filed by the U.S. Consumer Financial Protection Bureau (“CFPB”) and Attorneys General from Illinois, Pennsylvania, Washington, California and Mississippi for violations of state and federal consumer protection laws, based on allegations of widespread acts of misconduct detrimental to borrowers of the loans it services.

Recently, in October 2020, the New Jersey Attorney General also filed suit against the Company for violation of New Jersey consumer protection laws, alleging that it is “engaged in unconscionable commercial practices, deceptive conduct, and misrepresentations when servicing thousands of New Jersey consumers’ student loans.”

The Company has also been sued in securities class action lawsuits for failing to disclose material information, violating federal securities laws, which are ongoing.

The actions of the Company’s executives have exposed it to potential penalties, fines and other financial losses from the numerous investigations and lawsuits by public officials, consumers and shareholders.

KSF’s investigation is focusing on whether Navient’s officers and/or directors breached their fiduciary duties to Navient’s shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Navient shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-navi/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
206 Covington St.
Madisonville, LA 70447

View original content to download multimedia:http://www.prnewswire.com/news-releases/navient-investigation-update-by-former-louisiana-attorney-general–kahn-swick–foti-llc-continues-to-investigate-the-officers-and-directors-of-navient-corporation–navi-301196289.html

SOURCE Kahn Swick & Foti, LLC

December 18, 2020 10:53 pm

ZOOM VIDEO INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Zoom Video Communications, Inc. – ZM

NEW ORLEANS–(BUSINESS WIRE)–
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Zoom Video Communications, Inc. (NasdaqGS: ZM).

On November 10, 2020, following its investigation spanning over a year, the Federal Trade Commission announced a settlement with the Company over charges that it misled users regarding the level of security protecting its video conferencing services, giving users a false sense of security and exposing them to security breaches. The settlement requires the Company to “implement a robust information security program,” prohibits “privacy and security misrepresentations,” and levies fines of up to $43,280 for each future violation.

The Company has also been sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws, which is ongoing.

KSF’s investigation is focusing on whether Zoom’s officers and/or directors breached their fiduciary duties to Zoom’s shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Zoom shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-zm/ to learn more.

About Kahn Swick & Foti, LLC

To learn more about KSF, you may visit www.ksfcounsel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201218005745/en/

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner

[email protected]

1-877-515-1850

KEYWORDS: United States North America Louisiana

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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December 18, 2020 10:53 pm

KARYOPHARM INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Karyopharm Therapeutics Inc. – KPTI

On February 22, 2019, the Federal Drug Administration (“FDA”) reported serious flaws in the New Drug Application and the underlying clinical trial data for the Company’s drug, selinexor. Specifically, the FDA detailed that the Company’s clinical trials demonstrated a history of toxicity and limited efficacy findings due to its trial designs and faulted the Company for violating pre-specified trial protocols and guidance when attempting to use “real-world” data observations to bolster its case for approval.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.

KSF’s investigation is focusing on whether Karyopharm’s officers and/or directors breached their fiduciary duties to Karyopharm’s shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Karyopharm shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-kpti/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201218005742/en/

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner

[email protected]

1-877-515-1850

KEYWORDS: United States North America Louisiana

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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December 18, 2020 10:53 pm

PROASSURANCE INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of ProAssurance Corporation – PRA

On January 22, 2020, the Company disclosed a $37 million charge to its loss reserves for fourth-quarter 2019 due to “deteriorating loss experience, driven by a large national healthcare account.” Then, on February 20, 2020, the Company disclosed its 2019 fourth quarter and full year results, revealing that the adverse development from the one large national healthcare account was actually $51.5 million, much larger than the initial estimate of $37 million only a month prior. Then, on May 8, 2020, the Company disclosed that the large client would likely not be renewing its policy but instead exercise an option for tail coverage that would result in an additional $50 million in losses for 2Q 2020.

The Company and certain of its executives have been sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.

KSF’s investigation is focusing on whether ProAssurance’s officers and/or directors breached their fiduciary duties to ProAssurance’s shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of ProAssurance shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-pra/ to learn more.

About Kahn Swick & Foti, LLC

To learn more about KSF, you may visit www.ksfcounsel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201218005743/en/

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner

[email protected]

1-877-515-1850

KEYWORDS: Louisiana United States North America

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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