A lawsuit was filed on behalf of investors in Atlas Financial Holdings Inc (NASDAQ:AFH) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 03/19/2018 -- An investor, who purchased shares of Atlas Financial Holdings Inc (NASDAQ:AFH), filed a lawsuit in over alleged violations of Federal Securities Laws by Atlas Financial Holdings Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Atlas Financial Holdings Inc (NASDAQ:AFH) have certain options and for certain investors are short and strict deadlines running. Deadline: May 4, 2018. NASDAQ:AFH investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On March 1, 2018, Atlas Financial Holdings Inc announced selected preliminary unaudited financial results for its fourth quarter and year ended December 31, 2017. Atlas Financial Holdings Inc announced it took a significant loss-reserve charge in the fourth quarter related to the Company's commercial auto claims from 2015 and prior. Shares of Atlas Financial Holdings Inc (NASDAQ:AFH) declined from $19.30 per share on March 1, 2018 to $11.10 per share on March 2, 2018.
The plaintiff claims that between March 13, 2017, and March 2, 2018, the Defendants failed to disclose that the Company failed to employ internal controls to ensure appropriate accounting practices; including, but not limited to, the calculation of certain loss reserves, that, as a result, the Company's internal controls over financial reporting were materially weak, that as a result the Company's financial statements were inaccurate and misleading, including by understating certain loss reserves, and that, as a result of the foregoing, Defendants' statements about Atlas Financial's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Those who purchased shares of Atlas Financial Holdings Inc (NASDAQ:AFH) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego