NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A. announces that it is investigating potential securities fraud claims against AmTrust Financial Services, Inc. (NASDAQ:AFSI) resulting from allegations that the company may have issued materially misleading business information to the investing public.
On December 12, 2013, Geoinvesting.com issued a report asserting that AmTrust has long exaggerated its true financial condition by, among other things, (i) excluding losses of its wholly-owned subsidiaries in its SEC filings, (ii) failing to disclose a total of $276.9 million in losses transferred to its Luxembourg subsidiaries from 2009 to 2012, (iii) mismarking its life settlement contracts by using overly aggressive assumptions relative to its peers despite records showing AmTrust holds many policies that are likely worthless, and (iv) stating different accounts in its press releases than those reported in SEC filings. The report also raised numerous other red flags of fraud at AmTrust that called into question the veracity of AmTrust’s public disclosures to investors.
The Rosen Law Firm is preparing a class action lawsuit as a result of this adverse information. If you purchased AmTrust securities prior to December 12, 2013, you may visit the website at http://rosenlegal.com to join the action. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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