A lawsuit was filed on behalf of investors in Markel Corporation (NYSE: MKL) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/04/2019 -- An investor, who purchased shares of Markel Corporation (NYSE: MKL), filed a lawsuit over alleged violations of Federal Securities Laws by Markel Corporation in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Markel Corporation (NYSE: MKL) have certain options and for certain investors are short and strict deadlines running. Deadline: March 12, 2019. NYSE: MKL investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Glen Allen, VA based Markel Corporation, a diverse financial holding company, markets and underwrites specialty insurance products in the United States, the United Kingdom, Canada, and internationally. On December 7, 2018, Markel Corporation disclosed that "after having been contacted on November 30, 2018, it is fully cooperating with inquiries by US and Bermuda authorities into loss reserves recorded in late 2017 and early 2018 at Markel CATCo Investment Management Ltd and its subsidiaries." Shares of Markel Corporation (NYSE: MKL) declined to as low as $954.39 per share on December 24, 2018.
The plaintiff claims that between July 26, 2017 and December 6, 2018, the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that the Company's subsidiaries did not appropriately record loss reserves, that, as a result, the loss reserves would need to be adjusted and/or restated, that these misleading accounting practices would lead to regulatory scrutiny and financial loss to investors, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis
Those who purchased shares of Markel Corporation (NYSE: MKL) have certain options and should contact the Shareholders Foundation.
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