AmTrust Financial Services, Inc., is an American multinational property and casualty insurance company, offering workers’ compensation, general liability, business owners policies, cyber liability, EPLI and more.

According to the law firm press release, the lawsuit alleges 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.

This case was voluntarily dismissed on June 2, 2017.