HALL FINAL DEADLINE: ROSEN, A LEADING, LONGSTANDING, AND TOP RANKED FIRM, Reminds Hallmark Financial Services, Inc. Investors of Important Monday Deadline in Securities Class Action - HALL

NEW YORK, July 6, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Hallmark Financial Services, Inc. (NASDAQ: HALL) between March 5, 2019 and March 17, 2020, inclusive (the "Class Period"), of the important July 6, 2020 lead plaintiff deadline in the securities class action commenced by the firm. The lawsuit seeks to recover damages for Hallmark investors under the federal securities laws.

To join the Hallmark class action, go to http://www.rosenlegal.com/cases-register-1853.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Hallmark lacked effective internal controls over accounting and financial reporting related to reserves for unpaid losses; (2) Hallmark improperly accounted for reserve for unpaid losses and loss adjustment expenses related to its Binding Primary Commercial Auto business; (3) Hallmark would be forced to report a $63.8 million loss development for prior underwriting years; (4) Hallmark would exit from its Binding Primary Commercial Auto business; and (5) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 6, 2020. 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://www.rosenlegal.com/cases-register-1853.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40^th Floor
New York, NY  10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

SOURCE Rosen Law Firm, P.A.