Grabar Law Office Investigates Potential Shareholder Action on Behalf of Current Shareholders of ProAssurance Corporation

Philadelphia, Pennsylvania--(Newsfile Corp. - May 9, 2022) - A federal securities fraud class action against ProAssurance Corporation (NYSE: PRA) has survived a motion to dismiss.

That complaint alleges that defendants misrepresented the Company's underwriting and reserve standards and failed to adequately reserve for losses. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) ProAssurance lacked adequate underwriting process and risk management controls necessary to set appropriate loss reserves in its Specialty Property and Casualty segment; (2) ProAssurance failed to properly assess a large national healthcare account that experienced losses far exceeding the assumptions made when the account was underwritten; and (3) as a result, ProAssurance was subject to materially heightened risk of financial loss and reserve charges.

Current ProAssurance shareholders who have held shares of the Company's stock since August 8, 2018, can seek corporate reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate.

If you would like to learn more about this matter at no cost to you, please fill out the form provided at https://grabarlaw.com/the-latest/proassurance-corp-investigation/ or contact us at jgrabar@grabarlaw.com or call 267-507-6085. $PRA

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These materials have been prepared by the Grabar Law Office for informational purposes only and does not constitute legal advice. This information is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Prior results referred to in these materials do not guarantee or suggest a similar result in other matters.

Contact:

Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123194