Wolf Popper LLP Announces Investigation of Fraud Claims on Behalf of Investors in AmTrust Financial Services, Inc.
NEW YORK, February 27, 2017
Wolf Popper LLP is investigating potential claims on behalf of investors in AmTrust Financial Services, Inc. (NYSE: AFSI) resulting from AmTrust’s disclosure that it will have to take a reserve charge of $65 million to strengthen reserves at its “specialty-program segment following extensive internal actuarial reviews.” AmTrust investors can contact Fei-Lu Qian at 877.370.7703 or email@example.com for more information.
Before the market opened on February 27, 2017, AmTrust reported financial results for its fourth quarter and year ended December 31, 2016, which included a 43% decline in its fourth quarter net income, compared to the same period a year earlier. Significantly, AmTrust disclosed that the decrease in the net income was due to “a reserve charge of $65 million, or approximately $0.24 per diluted shares, primarily related to strengthening of prior year loss and loss adjustment reserves in our Specialty Program segment.”
On these disclosures, AmTrust’s shares have fallen $4.24 per share, or 15%, on intraday trading on February 27, 2017.
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