On November 16, 2022, the Court fully and finally approved as fair, reasonable and adequate the $13 million settlement reached earlier this year, which resolved the federal securities fraud action against the insurance holding company AmTrust Financial Services, Inc. and certain of its directors. Following the settlement hearing, United States District Judge Katherine Polk Failla entered an Order recognizing that Wolf Popper LLP, which served as Lead Counsel and Class Counsel in this lawsuit, “conducted the Litigation and achieved the Settlement with skill, perseverance and diligent advocacy” and is “highly experienced in class action litigation and securities class action litigation.”
The claims administration process is ongoing. The deadline for class members to file a claim is December 13, 2022. Once the claims process has closed, Wolf Popper will request that the Court distribute the settlement fund proceeds to those class members who have submitted valid and timely claims.
The case is Martínek v. AmTrust Financial Services, Inc., Case Number 19-cv-8030-KPF, in the U.S. District Court for the Southern District of New York.
Copies of the claim form, the court-approved notice to class members, and various orders and other court papers from the litigation are available on the settlement website at www.AmtrustPreferredStockLitigation.com. More information about this case is also available here.