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Amtrust Financial Services, Inc. Long Term Investor Lawsuit

  • If you are a current long term investor in Amtrust Financial Services, Inc. (NASDAQ:AFSI), including those who purchased AFSI before July 2007 and continue to hold those shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Amtrust Financial Services, Inc.
Security
NASDAQ: AFSI

Case Name
Amtrust Financial Services Deal Case 2006
Type of Lawsuit
Mergers and Acquisition
Court of Filing
New York State Supreme Court

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Summary

A lawsuit on behalf of current long term investors in Amtrust Financial Services, Inc. is pending in New York State Court against certain officers and directors of Amtrust over alleged breaches of fiduciary duty.
AmTrust Financial Services Inc., located in New York, is a multinational specialty property and casualty insurance company. Amtrust Financial Services, Inc. reported in 2007 Total Revenue of $576.92million, in 2008 $575.54million, and in 2009 $739.39million.

According to the complaint the plaintiff alleges breaches of fiduciary duty by certain officers and directors of AmTrust Financial Services in connection with an agreement AmTrust Financial Services entered with Maiden Holdings, Ltd in 2007. The plaintiff alleges that certain defendants engaged with this agreement between AmTrust and Maiden Holdings in self-dealing transaction based on their voting power and positions at AmTrust Financial only in order to benefit themselves to the detriment of AmTrust Financial Services, its subsidiaries and the minority shareholders.

Shares of Amtrust Financial Services, Inc. traded recently at $14.00, down from its 52weekHigh of $14.84 per share, $16.91 per share in 2008, and almost $20 per share in 2007.