|Company name||ProAssurance Corporation|
NEW YORK, May 15, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against ProAssurance Corporation (NYSE: PRA) on behalf of ProAssurance stockholders. Our investigation concerns whether ProAssurance has violated the federal securities laws and/or engaged in other unlawful business practices.
On January 22, 2020, ProAssurance 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.”
On this news, the Company’s stock price fell as much as $4.81, or nearly 13%, on January 23, 2020, to close at $33.40 per share.
Then, on May 7, 2020, ProAssurance reported its financial results for the first quarter 2020, including total revenues down 2.6% from first quarter 2019 revenues and cutting the dividend from $0.31 per share to just $0.05 per share.
On this news, the price of ProAssurance shares fell $4.38, or 21.5%, to close at $15.95 on May 8, 2020.
If you purchased or otherwise acquired ProAssurance 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 Marion Passmore or Melissa Fortunato by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.