NEW YORK, March 22, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of AmTrust Financial Services, Inc. securities (NASDAQ:AFSI) from May 10, 2016 through February 24, 2017, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for AmTrust investors under the federal securities laws.
To join the AmTrust class action, go to http://www.rosenlegal.com/cases-1061.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) AmTrust had ineffective assessment of the risks associated with the financial reporting; (2) AmTrust had an insufficient complement of corporate accounting and corporate financial reporting resources within the organization; (3) in turn, AmTrust lacked effective controls over financial reporting; and (4) 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 issued a press release revealing that it had identified material weaknesses in its internal control over financial reporting that existed as of December 31, 2016. On this news, shares of AmTrust fell $5.32 per share or over 19% to close at $22.34 per share on February 27, 2017, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 1, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1061.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.