NEW YORK,galloway coat of arms May 04, 2020 (GLOBE NEWSWIRE) -- The law firm of

Kirby McInerney LLP

is investigating potential claims against Hallmark Financial Services Inc. (“Hallmark Financial Services” or the “Company”) (NASDAQ:

HALL

). This investigation concerns whether Hallmark Financial Services has violated federal securities laws and/or engaged in other unlawful business practices.

On March 2, 2020, Hallmark Financial Services issued a press release, stating that it “made the strategic decision to exit its Binding Primary Auto business.” On this news, the Company’s share price fell $2.10, or 14.6%, to close at $12.23 per share on March 3, 2020.

Then, on March 11, 2020, Hallmark Financial Services announced it had dismissed its independent auditor, BDO, over a “disagreement” concerning the Company’s estimated reserves for unpaid losses and loss adjustment expenses throughout 2019. On this news, the Company’s share price fell $2.39, or 29.5%, to close at $5.71 on March 12, 2020.

Finally, on March 17, 2020, Hallmark Financial Services disclosed a letter from BDO to the SEC revealing that, on January 31, 2020, BDO had significantly expanded the scope of its audit with respect to the matters of disagreement and that “a substantial portion of the requests had not been received and/or tested prior to [BDO’s] termination.”

If you acquired Hallmark Financial Services securities, have information, or would like to learn more about these claims, please contact

Thomas W. Elrod

of Kirby McInerney LLP at 212-371-6600, by email at

[email protected]

, or by filling out

this contact form

, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP

is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website:

www.kmllp.com

.

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

Contacts

Kirby McInerney LLP

Thomas W. Elrod, Esq.

(212) 371-6600

[email protected]

www.kmllp.com

View comments

• ·India gold discounts at widest in five months as prices surge
• ·CLNY Investor Alert: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action Against Colony Capital, Inc. and Encourages Investors to Contact the Firm
• ·Moving Average Crossover Alert: GoDaddy
• ·A design trends forecaster calls the coronavirus “an amazing grace for the planet”
• ·American Airlines slashes flights but has no plans to halt U.S. service
• ·Coronavirus strands merchant ship crews at sea for months
• ·Acadia Pharmaceuticals (ACAD) Reports Q3 Loss, Tops Revenue Estimates
• ·Asia-Pacific Shares Settle Higher as China Factory Activity Expands Beyond Expectations
• ·Dundee Corporation Declares Quarterly First Preference Shares, Series 2 Dividend
• ·240,000 U.S. Virus Deaths Don't Have to Happen
• ·After Facebook deal, Reliance Jio rakes in $747 million from PE giant Silver Lake
• ·SHAREHOLDER ACTION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Canaan Inc. and Encourages Investors with Losses to Contact the Firm
• ·How Are PlayStation 5, Xbox Poised Before Launch?
• ·Crown Castle (CCI) Gains As Market Dips: What You Should Know
• ·Berkshire Hathaway annual meeting 2020: 5 things to know
• ·Global Hospital Beds Market Report 2020: Market to Reach $5.2 Billion by 2027