Amtrust Financial Services, Inc. Investor Investigation
An investigation for investors in Amtrust Financial Services, Inc. shares over potential securities laws violations by Amtrust Financial Services was announced and NASDAQ-AFSI stockholders should contact the Shareholders Foundation.
If you purchased shares of Amtrust Financial Services, Inc. , you have certain options and you should contact the Shareholders Foundation at email@example.com (mailto:mail@
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Amtrust Financial Services, Inc. concerning whether a series of statements by Amtrust Financial Services regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Amtrust Financial Services, Inc. reported that its annual Total Revenue rose from $740.21 million in 2009 to over $1.86 billion in 2012 and that its respective Net Income increased from $103.22 million to $177.28 million.
On December 12, 2013, a report was published that alleged that Amtrust Financial Services, Inc. has long exaggerated its true financial condition by, among other things, excluding losses of its wholly-owned subsidiaries in its SEC filings, failing to disclose a total of $276.9 million in losses transferred to its Luxembourg subsidiaries from 2009 to 2012, mismarking its life settlement contracts by using overly aggressive assumptions relative to its peers despite records showing Amtrust Financial Services, Inc. holds many policies that are likely worthless, and stating different accounts in its press releases than those reported in SEC filings. The report also raised numerous other red flags of fraud at Amtrust Financial Services, Inc. that called into question the veracity of AmTrust’s public disclosures to investors.
The same day, Amtrust Financial Services, Inc. issued a statement and reported strong financial outlook. Amtrust Financial Services, Inc. said that the fundamental outlook for the Company remains positive and is responding to negative comments produced by a report circulated by parties that have a vested interest in the common shares of Company declining in value.
Shares of Amtrust Financial Services, Inc. declined from over $40 in early December 2013 to $30.94 per share on December 12, 2013.
On December 13, 2013, NASDAQ-AFSI shares closed at $33.64 per share.
Those who purchased shares of Amtrust Financial Services, Inc. have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Shareholders Foundation, Inc.