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PRA.US

id: 766

ProAssurance (PRA) $28M Shareholder Settlement

The settlement funds have been distributed to claimants.

$28,000,000

Cash Settlement

N.D. Alabama

Court

2:20-cv-00856

Case number

08/08/2018

Class period Start

05/07/2020

Class period End

11/30/2023

Claim deadline

ProAssurance (PRA) settles $28 million with investors to end the lawsuit over an alleged breach of fiduciary duties by issuing high-risk policies to a physician staffing firm. 

Case Type

US Securities Class Action

Case Status

Disbursed

Alleged Offence

Misleading Statements,

Failure to Disclose,

Malpractice,

Breach of Fiduciary duty,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Payout per Share

1.84

Filing date

06/16/200

Plaintiffs

Central Laborers' Pension Fund

Attorneys

Cavanagh & O'Hara (Springfield, IL), Guin, Stokes & Evans, LLC (Birmingham, AL), Robbins Geller Rudman & Dowd LLP (Boca Raton, FL), Roger Bedford, Attorney at Law, LLC (Russellville, AL), Saxena White P.A. (White Plains, NY)

Defendants

W. Stancil Starnes, Edward L. Rand, Jr., Dana S. Hendricks, Howard H. Friedman, Michael L. Boguski

Judge

Hon. Gray M Borden

Administrator

Gilardi & Co LLC

Settlement agreement date

2023-06-22

Court hearing date

01/17/2024

Exclusion deadline

12/22/2023

Objection deadline

12/22/2023

Hearing deadline

12/22/2023

Trades matching type

FIFO

Disbursement date

01/31/2025

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