NEW YORK, June 27, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Kingstone Companies, Inc. (NASDAQ: KINS) from March 14, 2018 through April 29, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Kingstone investors under the federal securities laws.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 11, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/kingstone-companies-inc/ or to discuss your rights or interests regarding this class action, please contact Vik Pawar, Esq. of Pawar Law Group toll free at 888-589-9804 or via e-mail at info@pawarlawgroup.com.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Kingstone did not adequately follow industry best practices related to claims handling; (2) as a result, the Company did not record sufficient claims reserves; (3) the Company lacked adequate internal control over financial reporting; and (4) defendants’ positive statements about Kingstone’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world.
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Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com
