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JRVR.US
id: 870
James River (JRVR) Internal Control Setback Case
S.D. New York
Court1:23-cv-10000
Case number08/07/2023
Class period Start11/07/2023
Class period End01/12/2024
Lead Plaintiff motion deadline- On Nov 8, 2023, James River revealed an accounting error, leading to overstatements in net income.
- $JRVR dropped 7%, wiping out $37M of its shareholder value.
- The first Investor filed a complaint against JR for concealing internal control problems.
James River revealed a financial error in its Q2 2023 statements, causing overstatements in net income and revealing internal control weaknesses.
This news caused a $JRVR fall by 7% and ~$37 million loss of market capitalization, damaging shareholders.
Given all this information, investors have reason to suspect that JRVR didn't disclose its internal control problems and misled about the financial state of the company.
Case Status
Dismissed
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
11/08/2023
Filing date
11/13/2023
Lead Plaintiff Deadline
01/12/2024
Judge
Hon. Lewis J. Liman