|Company name||Kingstone Companies, Inc.|
NEW YORK, May 6, 2019 – Bragar Eagel & Squire, P.C. is investigating potential claims against Kingstone Companies, Inc. (NASDAQ: KINS). Our investigation concerns whether Kingstone has violated the federal securities laws and/or engaged in other unlawful business practices.
On April 29, 2019, Kingstone disclosed a $2.5 million charge to its claims case reserves and a $2.5 million charge to its IBNR reserves, based on a “comprehensive review of [the Company’s] claims operations.” As a result of the charges, the company “expects to end the full year with a combined ratio excluding catastrophe losses of 88% to 91% and catastrophe losses of 4 to 5 points.”
On this news, Kingstone’s share price fell by more than 15%, closing at $11.61 on April 30, 2019.
If you purchased or otherwise acquired Kingstone shares, 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 email@example.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.