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Atlas Financial Holdings, Inc.
According to the Complaint, the Company issued false and/or misleading statements and/or failed to disclose that: (1) Atlas failed to employ internal controls to ensure appropriate accounting practices, including, but not limited to, the calculation of certain loss reserves; (2) Atlas’s internal controls over financial reporting were materially weak; (3) consequently, Atlas’s financial statements were inaccurate and misleading, including by understating certain loss reserves; and (4) as a result, defendants’ statements about Atlas’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis. When the truth about these actions was revealed to the investing public, shares dropped, causing shareholders harm.
Case has been filed