SAN DIEGO, March 1, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of AmTrust Financial Services, Inc.
("AmTrust") (NASDAQ: AFSI) breached their fiduciary duties in
connection with the proposed sale of the Company to a group of
shareholders including its founding family, chief executive and
Evergreen Parent ("Evergreen"). Evergreen was formed by
private equity funds managed by Stone Point Capital, AmTrust CEO
Barry Zyskind and George and Leah Karfunkel, the family that
helped found New York-based
AmTrust.
On March 1, 2018, AmTrust
announced that it had signed a definitive merger agreement with
Evergreen. Under the terms of the agreement, Evergreen will acquire
all of the outstanding shares of AmTrust for $13.50 in cash.
The investigation concerns whether the AmTrust board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for AmTrust
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
that one Wall Street analyst has a $16.00 price target on the stock. The 52-week
high for AmTrust was $23.45.
If you are a shareholder of AmTrust and believe (1) the proposed
buyout price is too low or (2) the merger benefits management more
than the shareholders, and (3) you're interested in learning more
about the investigation or your legal rights and remedies,
please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at
619-814-4471. If emailing, please include a phone
number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP