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Argo Group International Holdings, Ltd.

Company NameArgo Group International Holdings, Ltd.
Stock SymbolARGO

On October 8, 2019, Bloomberg reported that the Company had been subpoenaed by the U.S. Securities and Exchange Commission regarding its disclosures about executive compensation. The investigation follows concerns raised by Voce Capital Management that Argo and its Chief Executive Officer (“CEO”) Mark Watson misused corporate assets, such as aircraft and housing.

On this news, the Company’s stock price fell $1.46 per share, or over 2%, to close at $65.85 per share on October 9, 2019, thereby injuring investors.

On November 5, 2019, the Company announced that its CEO had retired, effective immediately, and would resign from the Board of Directors, effective December 30, 2019.

On this news, the Company’s stock price fell sharply during after-hours trading on November 5, 2019.

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