SAN DIEGO, March 13, 2017 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain purchasers of shares of AmTrust Financial Services Inc (NASDAQ:AFSI) over alleged Securities Laws Violations by AmTrust Financial Services Inc.
Investors, who purchased shares of AmTrust Financial Services Inc (NASDAQ:AFSI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that AmTrust Financial Services had ineffective assessment of the risks associated with the financial reporting, that AmTrust Financial Services had an insufficient complement of corporate accounting and corporate financial reporting resources within the organization, that in turn, AmTrust Financial Services lacked effective controls over financial reporting, and that as a result, defendants’ statements about AmTrust’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On February 27, 2017, AmTrust Financial Services Inc announced that it identified a material weakness in its internal control over financial reporting that existed as of December 31, 2016, and that it expects to correct errors in its financial statements for fiscal years ended December 31, 2015 and 2014, and certain financial information for fiscal years ended December 31, 2013 and 2012. AmTrust Financial Services Inc also announced that it intended to delay the filing of its Form 10-K for the year ended December 31, 2016. AmTrust Financial Services Inc noted that it appointed a new independent registered public accounting firm on April 1, 2016, and stated that additional time was needed to review its consolidated financial statements and internal controls over financial reporting.
Those who purchased AmTrust Financial Services Inc (NASDAQ:AFSI) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.