Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of AmTrust Financial Services, Inc. (NASDAQ GS: AFSI )?
- Did you purchase your shares before February 15, 2011, or between February 15, 2011 and December 11, 2013, inclusive?
- Did you lose money in your investment in AmTrust Financial Services, Inc.?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of AmTrust Financial Services, Inc. (“AmTrust” or the “Company”) (NASDAQ GS: AFSI) between February 15, 2011 and December 11, 2013, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of AmTrust during the Class Period, or purchased shares prior to the Class Period and still hold AmTrust, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/amtrust-financial-services-inc-afsi.
AmTrust underwrites and provides property and casualty insurance in the United States and internationally to niche customer groups that it believes are generally underserved within the broader insurance market. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (i) the Company manipulated its loan loss reserves in order to inflate reported earnings; (ii) the Company manipulated its deferred tax liabilities; (iii) the Company underestimated the discount rates for its life settlement contracts in an effort to inflate its reported assets and total stockholder’s equity; (iv) the Company lacked adequate internal and financial controls; and (v) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
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