06 May Airo AV Reported Hallmark Financial Services Sued for Securities Law Violati…
BOSTON, May 06, 2020 (GLOBE NEWSWIRE) — Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a securities fraud lawsuit has been filed against Hallmark Financial Services, Inc. (NASDAQ: HALL) and certain of its officers. Investors who have lost money are encouraged to contact the firm for a free case evaluation.
During the month of March 2020, Hallmark’s shares plummeted after a series of announcements. First, on March 2, 2020, Hallmark revealed its decision to “exit its Binding Primary Auto business.” In one day, Hallmark’s share price fell $2.10, to close at $12.23 per share. Next, on March 11, 2020, Hallmark announced that it had fired its public accounting firm over “a disagreement.” On this news, the stock fell from $8.10 to $5.71 per share. Then on March 17, 2020, Hallmark filed a letter with the SEC indicating that the former public accounting firm had “expanded significantly the scope of its audit on January 31, 2020.” On this news, the stock fell to just $3.12 per share.
The lawsuit was filed in the U.S. District Court for the Northern District of Texas.
If you purchased or acquired shares of Hallmark, have lost money as a result of these announcements, and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at [email protected], or at https://shareholder.law/hallmark.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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