Case: ProAssurance Corporation
Venue: Northern District of Alabama
Class Period: 4/26/2019 - 5/7/2020
Lead Plaintiff /Deadline: 8/17/2020
/Contact: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

NEW YORK, NY – August 5, 2020 – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of ProAssurance Corporation (“ProAssurance” or the “Company”) (NYSE: PRA).  A complaint has been filed on behalf of investors that purchased or otherwise acquired ProAssurance common stock between April 26, 2019 and May 7, 2020, inclusive (the “Class Period”).

On January 22, 2020, post-market, ProAssurance disclosed a $37 million charge to its loss reserves for the fourth quarter of 2019 due to "deteriorating loss experience, driven by a large national healthcare account."  

Following this news, ProAssurance's stock price fell $4.18 per share, about 11%, to close at $33.40 per share on January 23, 2020.

On February 20, 2020, ProAssurance revealed that the adverse development from the one large national healthcare account was actually $51.5 million.

Then, on May 8, 2020, ProAssurance announced that the large healthcare client would likely not renew its policy and instead would likely exercise an option for tail coverage that would result in an additional $50 million in losses in the second quarter of 2020.

Following this news, ProAssurance’s stock price fell $4.38 per share, 21.5%, to close at $15.95 per share on May 8, 2020.

If you are a member of the proposed Class, you may move the court no later than August 17, 2020 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing This e-mail address is being protected from spambots. You need JavaScript enabled to view it or by calling 646-315-9003.

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

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, your rights, or your interests, please contact: 

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
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