NEW YORK, Feb. 27, 2017 /PRNewswire/ -- Wolf Popper LLP is investigating potential claims on behalf of investors in AmTrust Financial Services, Inc. (NASDAQ: 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 firstname.lastname@example.org 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 $4.70 per share, or 17%, on intraday trading on February 27, 2017.
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SOURCE Wolf Popper LLP