AmTrust Financial Services, Inc. is a company involved in a class action lawsuit in the United States District Court Southern District of New York. The lawsuit, titled Martinek vs. AmTrust Financial Services, Inc., alleges that the company and certain directors violated federal securities laws by making false and misleading statements regarding the listing of AmTrust preferred stock on the New York Stock Exchange. As part of a proposed settlement, AmTrust has agreed to pay $13,000,000 to be divided among eligible claimants who purchased or acquired the preferred stock during the class period of January 22, 2018, through January 18, 2019.
The settlement funds will be distributed based on the size and timing of the claimants' transactions, and a Proof of Claim and Release Form must be submitted by December 13, 2022, to receive a payment. The court will hold a hearing on November 16, 2022, to consider the approval of the settlement and other related matters. Claimants have the option to object to the settlement or any aspect of it by submitting a written objection by October 26, 2022.
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