On February 27, 2017, AmTrust revealed that it "identified material weaknesses in its internal control over financial reporting that existed as of December 31, 2016, specifically related to ineffective assessment of the risks associated with the financial reporting, and an insufficient complement of corporate accounting and corporate financial reporting resources within the organization." AmTrust also said that it would delay filing its 2016 annual financial statements and that it "identified and corrected errors during the three months ended December 31, 2016 related to prior periods in 2016 and 2015." Following this news, AmTrust stock dropped $5.32 per share or over 19.23% from its previous closing price to close at $22.34 on February 27, 2017.
If you are aware of any facts relating to this investigation, or purchased shares of AmTrust, you can assist this investigation by visiting the firm's site: www.bgandg.com/afsi. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
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