AmTrust Financial Services, Inc. Securities Litigation
On or around 07/21/2022 (Settlement preliminarily approval)
Filing Date: August 28, 2019
According to the Complaint, AmTrust Financial Services, Inc. ("AmTrust") is an American insurance holding company. Through its subsidiaries, AmTrust provides specialty property and casualty insurance products. AmTrust provides insurance services in all fifty states, the District of Columbia, and Puerto Rico.
This action is brought on behalf of investors who purchased AmTrust preferred shares on the open market during the Class Period. The Complaint alleges that throughout the Class Period, the prices at which Plaintiff and the Class purchased AmTrust preferred stock were artificially inflated as a result of Defendants’ materially false and misleading statements and omissions of material fact concerning the future viability and market for AmTrust’s preferred shares.
Plaintiff re-filed the Complaint on August 30, 2019, to correct a signature error. On November 18, the Court issued an Order appointing Lead Plaintiff and Counsel. Defendants filed a Motion to Dismiss the Complaint on January 31, 2020. On August 14, the Court issued an Order denying Defendants' Motion to Dismiss.
Lead Plaintiff filed a Motion for Class Certification on March 15, 2021. On February 3, 2022, the Court issued an Order granting Plaintiff's Motion for Class Certification.
On June 22, 2022, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on July 21.
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