HALL Investor Alert: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Hallmark Financial Services, Inc. and Encourages Investors to Contact the Firm
NEW YORK, NY / ACCESSWIRE / May 5, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Hallmark Financial Services, Inc.
("Hallmark" or "the Company") (NASDAQ:HALL). Investors who purchased Hallmark securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/hall.
The investigation concerns whether Hallmark and certain of its officers and/or directors have violated federal securities laws.
On March 11, 2020, Hallmark announced the firing of its independent auditor, BDO. Hallmark asserted that the dismissal was due to a "disagreement" concerning its estimated reserves for unpaid losses and loss adjustment expenses throughout 2019. Following this news, Hallmark's stock dropped $2.39 per share, or 29%, to close at $5.71 on March 12, 2020.
On March 17, 2020, Hallmark revealed that BDO sent a letter to the Securities and Exchange Commission claiming that the auditor had broadened the scope of its audit on January 31, 2020, relating to the disagreement, and that "a substantial portion of the requests had not been received and/or tested prior to our termination." Following this news, Hallmark's stock dropped close to 3% on March 18, 2020.
If you are aware of any facts relating to this investigation, or purchased Hallmark shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/hall. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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