Atlas Financial Holdings, Inc. Securities Litigation

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Lawsuit Overview

Defendant:Atlas Financial Holdings, Inc.
Date Filed:March 5th, 2018
Sector:Finance
Industry:Property-Casualty Insurers
Class Start Date:February 22nd, 2017
Class End Date:June 15th, 2018

Atlas Financial purportedly provides specialty commercial transportation insurance for taxi, limousine, paratransit and other transport businesses around the United States.

According to the law firm press release, the complaint filed in this class action alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company failed to employ internal controls to ensure appropriate accounting practices; including, but not limited to, the calculation of certain loss reserves; (2) that, as a result, the Company's internal controls over financial reporting were materially weak; (3) that as a result the Company's financial statements were inaccurate and misleading, including by understating certain loss reserves; and, (4) that, as a result of the foregoing, Defendants' statements about Atlas Financial's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

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First Identified Complaint

Philip Fryman, et al. v. Atlas Financial Holdings, Inc., et al.

Date Filed:March 5th, 2018
Class Period Start:March 13th, 2017
Class Period End:March 2nd, 2018