NEW YORK, June 13, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Kingstone Companies, Inc. (“Kingstone” or the “Company”) (Nasdaq: KINS) in the United States District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of Kingstone between March 14, 2018 and April 29, 2019, inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.

The Complaint alleges Defendants failed to disclose to investors: (1) that the Company did not adequately follow industry best practices related to claims handling; (2) that, as a result, the Company did not record sufficient claims reserves; (3) that the Company lacked adequate internal control over financial reporting; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the August 11, 2019 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.