James River Group Holdings, Ltd.
|Company Name||James River Group Holdings, Ltd.|
On October 8, 2019, after the market closed, James River disclosed that it had delivered a notice of early cancellation of all policies issued to its largest customer, Rasier LLC.
On this news, the Company’s share price fell $11.06, or over 23%, to close at $37.88 per share on October 9, 2019, thereby injuring investors.
Then, on May 5, 2021, James River announced its first quarter 2021 financial results, reporting “$170.0 million of unfavorable development in Commercial Auto, primarily driven by a previously canceled account that has been in runoff since 2019.”
On this news, the Company’s share price fell $12.16, or 26%, to close at $33.94 per share on May 6, 2021, thereby injuring investors further.
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