| Company: | AmTrust Financial Services, Inc. |
| Ticker Symbol: | AFSI |
| Class Period: | Feb-15-11 to Dec-11-13 |
| Date Filed: | Feb-18-14 |
| Lead Plaintiff Deadline: | Apr-19-14 |
| Court: | Southern District of New York |
| Allegations: | |
The Complaint alleges that throughout 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 controls.
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 acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
