Sun07052020

Robins Global News & Noticias



COVID-19 Map Tracker | COVID-19 News Features


  • Career Exam Study
    Career Exam Study
  • E-commerce Guide
    E-commerce Guide
  • Dropshipping Guide
    Dropshipping Guide
  • Microsoft Exam
    Microsoft Exam
  • IT Career News
    IT Career News

RobinsPost News Network

+ Larger Font | - Smaller Font
Share

Globe NewsWire News Distribution Service

Press Release: HALL DEADLINE MONDAY: Hagens Berman, National Trial Attorneys, Notifies Hallmark Financial Services (HALL) Investors of Class Action, Encourages Investors to Contact the Firm


SAN FRANCISCO, June 30, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges investors in Hallmark Financial Services, Inc. (NASDAQ: HALL) who have suffered significant losses to submit their losses now.  Only six days remain until the July 6, 2020 lead plaintiff deadline in a securities fraud class action against Hallmark.

Class Period: Mar. 5, 2019 - Mar. 17, 2020
Lead Plaintiff Deadline: July 6, 2020
Visit: www.hbsslaw.com/investor-fraud/HALL
Contact An Attorney Now: This email address is being protected from spambots. You need JavaScript enabled to view it.
        844-916-0895

Hallmark Financial Services (HALL) Securities Class Action:

The complaint alleges that throughout the Class Period, Defendants misrepresented and concealed: (1) that the Company lacked effective internal controls over accounting and financial reporting related to reserves for unpaid losses; and (2) that the Company improperly accounted for reserves for unpaid losses and loss adjustment expenses related to its Binding Primary Commercial Auto business.

Investors began to learn the truth, according to the complaint, through a series of disclosures beginning on Mar. 2, 2020, when Hallmark announced it was exiting the Binding Primary Commercial Auto business and reported a $63.8 million loss development for prior underwriting years. 

Then, on Mar. 11, 2020, Hallmark announced it had dismissed its independent auditor BDO over a “disagreement” concerning the Company’s estimated reserves for unpaid losses and loss adjustment expenses throughout 2019.   

Finally, on Mar. 17, 2020, Hallmark disclosed a letter from BDO to the SEC revealing that BDO had expanded significantly the scope of its audit on Jan. 31, 2020, with respect to the matters of disagreement, and that “a substantial portion the requests had not been received and/or tested prior to our termination.”

These disclosures caused Hallmark shares to decline over 75% lower between Mar. 2 and Mar. 18, 2020.

“We’re focused on proving Defendants intentionally misled investors about the Company’s internal controls and the sufficiency of its loss reserves,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you purchased shares of Hallmark and suffered significant losses, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Hallmark should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 844-916-0895



Posted: 2020-06-30 18:04:00

Get Full News Story On GlobeNewsWire Press Release Service


Listen to this article. Speaker link opens in a new window.
Text To Speech BETA Test Version.








Related News Stories From The Web And More

Related Bing News Search Results

Press Release: HALL DEADLINE MONDAY: Hagens Berman, National Trial Attorneys, Notifies Hallmark Financial Services (HALL) Investors of Class Action, Encourages Investors to Contact the Firm | Globe NewsWire News Distribution Service | RobinsPost News Network - Newscast

The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Hallmark Financial Services, Inc (HALL)

Fri, 03 Jul 2020 07:00:00 GMT

The Law Offices of Frank R. Cruz reminds investors of the upcoming July 6, 2020 deadline to file a lead plaintiff motion in the class action filed on ...

The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of HALL, R and BKD

Thu, 02 Jul 2020 14:55:00 GMT

NEW YORK, NY / ACCESSWIRE / July 2, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to ...

SHAREHOLDER ALERT: HALL FSCT KL: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

Thu, 02 Jul 2020 03:26:00 GMT

NEW YORK, NY / ACCESSWIRE / July 2, 2020 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a ...

ROSEN, A TOP RANKED FIRM, Reminds Hallmark Financial Services, Inc. Investors of Important Monday Deadline in Securities Class Action – HALL

Wed, 01 Jul 2020 17:16:00 GMT

Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Hallmark Financial Services, Inc. (NASDAQ: HALL) between.

CLASS ACTION UPDATE for HALL, R and WFC: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

Wed, 01 Jul 2020 09:31:00 GMT

NEW YORK, NY / ACCESSWIRE / July 1, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders ...

Related News Story Videos From Youtube






Blow Us A Whistle

Comments (Whistles) Designed By Disqus




Company Information

Official Content Providers











PRIVACY POLICY

We recommend Firefox 3 (and above), Edge, and Chrome for dynamic performance.
© 2008-2020 RobinsPost (The Bird's Eye View Company) All rights are reserved.
RobinsPost provides links to news sites based on their RSS feeds.
All trademarks, copyrights, videos, photos and logos are owned by news sources.
News stories, videos and live streams are from trusted sources:
Bing News, Google News, Faroo News, NewsApi.org and YouTube Search Results.
ROBINSPOST Is Proudly Made In America.
Where Quality, Safety and Service Comes First.