A settlement was reached in the lawsuit filed on behalf of certain investors of CRM Holdings Ltd (NASDAQ: CRMH) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on: March 18, 2015. CRM Holdings Ltd (NASDAQ: CRMH) investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/21/2015 -- A deadline is coming up on March 18, 2015 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of CRM Holdings Ltd (NASDAQ: CRMH) between December 20, 2005 and November 5, 2008.
Investors who purchased a significant amount of shares of CRM Holdings Ltd (NASDAQ: CRMH) between December 20, 2005 and November 5, 2008, have certain options and should contact the Shareholders Foundation by email at firstname.lastname@example.org or call +1(858) 779 - 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the CRM Holdings Ltd (NASDAQ: CRMH) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/crm-holdings-ltd-nasdaq-crmh-investor-securities-class-action-lawsuit-02052010
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is March 18, 2015. The class action administrator for this case is The Garden City Group Inc.
The lawsuit was originally filed in in the U.S. District Court for the Southern District of New York against CRM Holdings Ltd over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between December 21, 2005 and November 5, 2008. According to the complaint the plaintiff alleges that CRM Holdings Ltd and certain of CRM Holdings Ltd's executive officers and directors violated federal securities laws by knowing or recklessly disregarding between December 21, 2005 and November 5, 2008, that their public statements concerning CRM Holdings Ltd's financial performance and prospects were materially false and misleading. On October 3, 2008, CRM Holdings Ltd disclosed that it had received a letter from the New York State Workers' Compensation Board indicating its intention to initiate legal proceedings against CRM Holdings Ltd on behalf of the Trusts related toCRM Holdings Ltd's actions while acting as the administrator and broker of record for the Trusts. On this news, over the next two days of trading, shares of CRM Holdings Ltd declined $0.61 per share, or 24.31%, to close on October 7, 2008 at $1.91 per share. Then, on November 5, 2008, CRM Holdings Ltd reported its financial results for the 2008 fiscal third quarter and announced that during third quarter CRM Holdings Ltd had approximately $2.5 million of loss reserve increases that would have otherwise been reflected in the first and second quarter of 2008. As a result of this news, so the lawsuit, over the following three days of trading, CRM Holdings Ltd shares declined $0.58 per share, or more than 36%, to close on November 7, 2008, at $1.03 per share, on high volume.
Those who purchased shares of CRM Holdings Ltd (NASDAQ: CRMH) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego