BOSTON, MA / ACCESSWIRE / September 22, 2019 / Thornton Law Firm LLP announces that a lawsuit has been filed against AmTrust Financial Services, Inc. (OTC PINK:AFSIA, AFSIB, AFSIC, AFSIM, AFSIN, AFSIP) alleging that AmTrust violated the federal securities laws. Investors who purchased AmTrust preferred stock between January 22, 2018 and January 18, 2019 are encouraged to contact the Thornton Law Firm and learn more about the case at www.tenlaw.com/cases/AmTrust. Investors may also email the firm to obtain information at firstname.lastname@example.org or call (617) 531-3917.
FOR MORE INFORMATION, VISIT: www.tenlaw.com/cases/AmTrust.
The lawsuit alleges that in connection with AmTrust's merger announced in 2018, AmTrust informed investors that, unlike AmTrust's common shares, which were being acquired in the Buyout, the six series of publicly traded AmTrust preferred stock were not being purchased in the Merger. The lawsuit alleges that AmTrust misleadingly stated the preferred shares would continue to be listed on the NYSE and would remain listed and outstanding following the Merger. The lawsuit further alleges that contrary to these statements, less than two months following the close of the Merger, on January 18, 2019, AmTrust announced it would delist all six series of AmTrust preferred stock from the NYSE. The prices of the preferred stocks dropped by almost 40% the very next trading day, with the preferred stocks losing hundreds of millions of dollars in value. The class action lawsuit seeks to recover on behalf of purchasers of the preferred stock between January 22, 2018 and January 18, 2019.
Investors who purchased AmTrust securities between January 22, 2018 and January 18, 2019 are encouraged to contact the Thornton Law Firm's shareholder rights team at www.tenlaw.com/cases/AmTrust. The class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Thornton Law Firm's securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE: Thornton Law Firm LLP
View source version on accesswire.com: