An investigation on behalf of investors of ProAssurance Corporation (NYSE: PRA) shares over potential securities laws violations by ProAssurance Corporation and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of ProAssurance Corporation (NYSE: PRA) concerning whether a series of statements by ProAssurance Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Birmingham, AL based ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States.

ProAssurance Corporation reported that its annual Total Revenue increased from $858.11 million in 2017 to $877.08 million in 2018 and that its Net Income declined from $107.26 million in 2017 to $47.05 million in 2018.

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

Shares of ProAssurance Corporation (NYSE: PRA) declined from $37.61 per share on January 22, 2020 to as low as $29.45 per share on January 30, 2020.