Item 8.01 Other Events.
On September 27, 2022, the parties to the litigation styled Fryman v. Atlas
Financial Holdings, Inc., No. 1:18-cv-01640 (N.D. Ill.), in which the plaintiffs
have asserted claims under the federal securities laws against Atlas Financial
Holdings, Inc. (the "Company") and two of its executive officers on behalf of a
putative class of purchasers of the Company's securities, reached an agreement
in principle to settle the action for a settlement payment of $5 million to be
paid by the Company's insurers. The settlement is subject to the negotiation and
execution of a definitive stipulation of settlement and approval by the court
after providing notice to members of the putative class. The defendants deny
that they committed any violation of law or engaged in any wrongdoing with
respect to any of the matters alleged in the complaint.
Forward-Looking Statements
This Current Report on Form 8-K includes forward-looking statements and
information within the meaning of the federal securities laws regarding the
Company and its businesses. Such statements are based on the current
expectations, estimates, projections, and assumptions made by management. The
words "anticipate," "expect," "believe," "may," "should," "estimate," "project,"
"outlook," "forecast" or similar words are used to identify such forward looking
information. The forward-looking events and circumstances discussed in this
report may not occur and could differ materially as a result of known and
unknown risk factors and uncertainties affecting the Company, including risks
regarding the effects and duration of the COVID-19 outbreak, the insurance
industry, economic factors, and the equity markets generally and the other risk
factors discussed in the "Risk Factors" section of the Company's Annual Report
on Form 10-K for the fiscal year ended December 31, 2021 and subsequent periodic
reports. Many of these uncertainties and risks are difficult to predict and
beyond management's control. No forward-looking statement can be guaranteed.
Except as required by applicable securities laws, forward-looking statements
speak only as of the date on which they are made, and the Company and its
subsidiaries undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
events, or otherwise.
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