Judge Jerome B. Abrams has denied American Family Insurance’s motion to strike class action allegations. You may read the order HERE.

Tostrud Law Group has been appointed to the Plaintiffs’ Steering Committee in Pork Antitrust Litigation in the District of Minnesota. You may read the order HERE.

The United States District Court, District of Minnesota has denied Defentants’ Motion to Dismiss In Re Pork Antitrust Litigation. You may read the order here.

Tostrud Law Group, PC announces an investigation on behalf of Provident Financial Services, Inc.(“Provident” or the “Company”) (NYSE: PFS)investors concerning the Company and its officers’ possible violations of federal securities laws.

On April 27, 2018, Provident disclosed “deterioration in selected commercial credits, including a $15.4 million credit to a commercial borrower” that had filed for bankruptcy in March 2018.  The Company established a $2.5 million specific reserve for this impaired loan.  

On July 5, 2018, Provident revealed that it expected an additional reserve for the remainder of the $15.4 million credit and that its net income for the quarter ended June 30, 2018 would be reduced by up to $9.3 million. 

Then, on July 27, 2018, pre-market, Provident reported a net charge-off of $4 million for two additional loans from another commercial borrower that became impaired during second quarter 2018. The Company’s Chief Executive Officer Christopher Martin stated that the losses “were primarily driven by two commercial relationships which we believe involved borrower fraud in each instance.” 

On this news, Provident’s stock price fell $1.46 per share, or over 5%, to close at $26.23 per share on July 27, 2018, thereby injuring investors. 

Later, in December 2019, certain Provident emails, which became public during the course of certain litigation, indicated that the Company was aware of the fraudulent nature of and/or risks posed by at least one of its failed loans.  Specifically, Provident executives and top-level management, including CEO Martin, seemingly ignored multiple red flags and extended a $17 million loan to Lotus Exim International.

If you purchased Provident securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Jon A. Tostrud of Tostrud Law Group, PC by telephone at (310) 278-2600, toll-free at (855) 854-8678, or by email to shareholder@tostrudlaw.com, or visit our website at http://tostrudlaw.com/.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Tostrud Law Group, PC

Jon A. Tostrud, Esquire

1925 Century Park East, Suite 2100

Tostrud Law Group, PC announces an investigation on behalf James River Group Holdings, Ltd. (“James River” or the “Company”) (NASDAQ: JRVR) investors concerning the Company and its officers’ possible violations of federal securities laws.

On October 8, 2019, after-market, the Company 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 22%, to close at $37.88 per share on October 9, 2019, thereby injuring.

If you purchased James River securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Jon A. Tostrud of Tostrud Law Group, PC by telephone at (310) 278-2600, toll-free at (855) 854-8678, or by email to shareholder@tostrudlaw.com, or visit our website at http://tostrudlaw.com/.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Tostrud Law Group, PC

Jon A. Tostrud, Esquire

1925 Century Park East, Suite 2100

Los Angeles, CA 90067 
310-278-2600

855-854-8678
shareholder@tostrudlaw.com
http://tostrudlaw.com/