AmTrust Investors' Last Shot At Restatements Suit Fails
Law360 (April 21, 2020, 2:55 PM EDT) -- A New York federal judge has declined to give investors in AmTrust Financial Services Inc. another chance to amend securities fraud claims against the firm, saying their most recent complaint "does not correct, and largely does not attempt to correct," the suit's shortcomings.
U.S. District Judge Lewis Kaplan needed significantly fewer pages Monday than he did back in September to reject the latest amended complaint accusing AmTrust of making a series of misstatements about its finances dating back to 2012 that required the insurer to restate its financials and ultimately sank the company's stock.
Judge Kaplan said in an 83-page order...
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