Lawsuit filed for Investors in shares of AmTrust Financial Services, Inc (Preferred Shares)

An investor, who purchased shares of AmTrust Financial Services, Inc (Preferred Shares), filed a lawsuit over alleged violations of Federal Securities Laws by AmTrust Financial Services, Inc., Barry D. Zyskind, George Karfunkel, and Leah Karfunkel.

Investors who purchased a significant amount of shares of AmTrust Financial Services, Inc (Preferred Shares) have certain options and for certain investors are short and strict deadlines running. Deadline: October 29, 2019. AmTrust Financial Services, Inc (Preferred Shares) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based AmTrust Financial Services, Inc. provides property and casualty insurance in the United States and internationally.

The lawsuit was filed on behalf of investors in the following six series of preferred stock that AmTrust offered for sale to the public:

6.75% Non̻Cumulative Preferred Stock, Series A, consisting of 4,600,000 (plus a potential over-allotment option of 690,000) shares, at an offering price of $25 per share, for aggregate gross proceeds of $132,250,000, which were listed and traded on the NYSE beginning in June 2013

7.25% Non-Cumulative Preferred Stock, Series B, consisting of 115,000 shares, represented by 4,000,000 (plus a potential overallotment option of 600,000) depositary shares, each representing a 1/40th interest in a share of the Series B Preferred Stock, at an offering price of $25 per depositary share, for aggregate gross proceeds of $115,000,000, which were listed and traded on the NYSE beginning in June 2014

7.625% Non-Cumulative Preferred Stock, Series C, consisting of 92,000 shares, represented by 3,200,000 (plus a potential over-allotment option of 480,000) depositary shares, each representing a 1/40th interest in a share of the Series C Preferred Stock, at an offering price of $25 per depositary share, for aggregate gross proceeds of $92,000,000, which were listed and traded on the NYSE beginning in September 2014

7.50% Non-Cumulative Preferred Stock, Series D, consisting of 189,750 shares, represented by 6,600,000 (plus a potential overallotment option of 990,000) depositary shares, each representing a 1/40th interest in a share of the Series D Preferred Stock, at an offering price of $25 per depositary share, for aggregate gross proceeds of $189,750,000, which were listed and traded on the NYSE beginning in March 2015

7.75% Non-Cumulative Preferred Stock, Series E, consisting of 143,750 shares, represented by 5,000,000 (plus an over-allotment of 750,000) depositary shares, each representing a 1/40th interest in a share of the Series E Preferred Stock, at an offering price of $25 per depositary share, for aggregate gross proceeds of $143,750,000, which were listed and traded on the NYSE beginning in March 2016

6.95% Non-Cumulative Preferred Stock, Series F, consisting of 287,500 shares, represented by 10,000,000 (plus an over-allotment of 1,500,000) depositary shares, each representing a 1/40th interest in a share of the Series F Preferred Stock, at an offering price of $25 per depositary share, for aggregate gross proceeds of $287,500,000, which were listed and traded on the NYSE beginning in September 2016.

According to the complaint the plaintiff alleges that the defendants violated §§ 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 during January 22, 2018 between January 18, 2019. More specifically, the plaintiff alleges that beginning on January 22, 2018, the defendants made repeated statements that, unlike AmTrust's common shares, which would be purchased by the company's controlling shareholder and delisted as part of a merger, the six series of publicly traded AmTrust preferred stock would continue to be listed on the New York Stock Exchange and would remain listed and outstanding.

Then, on January 18, 2019, less than two months after the close of the merger, AmTrust announced the delisting of all six series of its preferred stock.

Those who purchased shares of AmTrust Financial Services, Inc (Preferred Shares)) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.