A Deadline is coming up on v in the lawsuit for investors in AmTrust Financial Services Inc (NASDAQ:AFSI) and NASDAQ:AFSI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/01/2017 -- The Shareholders Foundation announces that a deadline is coming up on May 1, 2017 in the lawsuit filed for certain investors in NASDAQ:AFSI shares 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 there are strict and short deadlines running. Deadline: May 1, 2017. NASDAQ:AFSI stockholders should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges on behalf of purchasers of AmTrust Financial Services Inc (NASDAQ:AFSI) common shares between May 10, 2016 and February 24, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 10, 2016 and February 24, 2017 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 shares of AmTrust Financial Services Inc have certain options and should contact the Shareholders Foundation.
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