According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- James River had not adequately reserved for its Uber policies;
- James River was using an incorrect methodology for setting reserves that materially understated the Company’s true exposure to Uber claims;
- as a result, James River was forced to increase its unfavorable reserves in subsequent quarters even after cancelling the Uber policies; and
- a result of the foregoing, defendants’ statements about James River’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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