|[February 14, 2014]
Glancy Binkow & Goldberg LLP Files Class Action Lawsuit Against AmTrust Financial Services, Inc.
LOS ANGELES --(Business Wire)--
Binkow & Goldberg LLP, representing investors of AmTrust
Financial Services, Inc. ("AmTrust" or the "Company") (NASDAQ:AFSI),
has filed a class action lawsuit in the United States District Court for
the Southern District of New York on behalf of a class (the "Class")
comprising all purchasers of AmTrust securities between February 15,
2011 and December 11, 2013, inclusive (the "Class Period").
If you purchased AmTrust shares during the Class Period, please contact
us toll-free at (888) 773-9224, or at (212) 682-5340, or by email to email@example.com
to discuss this matter.
AmTrust, through its subsidiaries, underwrites and provides property and
casualty insurance in the United States and internationally. The
Complaint alleges thatthroughout the Class Period defendants
misrepresented and/or failed to disclose that the Company: (1)
manipulated its loan loss reserves in order to inflate reported
earnings; (2) manipulated its deferred tax liabilities; (3)
underestimated the discount rates for its life settlement contracts in
an effort to inflate the Company's reported assets and total
stockholder's equity; and (4) lacked adequate internal and financial
On December 12, 2013, a report published by Geoinvesting alleged certain
accounting improprieties at AmTrust, including manipulation of the
Company's loan loss reserves and manipulation of the Company's deferred
tax liabilities, and that the Company had underestimated the discount
rates for its life settlement contracts. Following this news, AmTrust
securities declined $4.63 per share, or 12%, to close at $33.67 per
share on December 12, 2013.
If you are a member of the Class described above, you may move the Court
no later than April 7, 2014, to serve as lead plaintiff; however, you
must meet certain legal requirements. If you wish to learn more about
this action, or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact Michael
Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888)
773-9224, or contact Gregory
Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd
Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by
e-mail to firstname.lastname@example.org,
or visit our website at http://www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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