Alistair Capital Delivers Letter to AmTrust Financial Services, Inc.'s Audit Committee

- Alistair Capital Believes AmTrust's Accounting Is Flawed In Several Material Ways

- Cites Discrepancies Alistair Believes Are Indicative of Internal Control Deficiencies

- Alistair Capital Calls on AmTrust's Audit Committee to Initiate an Independent Investigation Pursuant to Exchange Act Rule 10A-3(b)(4) and in Accordance with AmTrust's Audit Committee Charter

News provided by

Alistair Capital Management, L.L.C.

Dec 19, 2014, 09:56 ET

NEW YORK, Dec. 19, 2014 /PRNewswire/ -- Alistair Capital Management, L.L.C. (together with its affiliates, "Alistair Capital") today announced that Alistair Capital has delivered a letter to the Audit Committee of AmTrust Financial Services, Inc. ("AmTrust" or "the Company") (NASDAQ: AFSI).

In the letter, the full text of which is available at http://www.alistaircapital.com/amtrustletter/, Alistair Capital describes at length what appear to be significant accounting irregularities at AmTrust.

In light of what Alistair Capital believes are significant accounting problems that put shareholders, creditors, and policyholders at grave risk, Alistair Capital requests that its letter be treated in accordance with Exchange Act Rule 10A-3(b)(3) [Complaints] and urges AmTrust's Audit Committee to initiate an investigation pursuant to Exchange Act Rule 10A-3(b)(4) [Authority to engage advisers].

In preparing its letter, Alistair Capital relied solely on upon publicly available documents such as AmTrust's filings with the Securities and Exchange Commission and similar agencies, foreign and domestic, whose materials are available online.

About Alistair Capital Management, L.L.C.

Alistair Capital Management, L.L.C. was founded in 2009 by Casey H. Nelson and manages Alistair Capital Fund, L.P.

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SOURCE Alistair Capital Management, L.L.C.