Published
October 3, 2026
Investors who bought AmTrust Financial Services common stock traceable to the November 2015 offering, or its 6.95% Series F preferred stock traceable to the September 2016 offering, may qualify to claim a pro rata cash payment from the $19 million AmTrust securities class action settlement. Claims close October 7, 2026, and the final approval hearing is set for November 19, 2026.
Current Status
Claims are open. A Proof of Claim must be submitted online or postmarked by October 7, 2026; the court order does not state a time of day. The court preliminarily approved the settlement and authorized notice to the classes in an order entered June 12, 2026, and the final approval hearing is scheduled for November 19, 2026. No payment date has been announced, and payments will not begin until the court grants final approval and claims are processed.Free settlement alerts
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Status
Claims Open
Claim Deadline
October 7, 2026
Estimated Payout
Pro rata
Est. average $2.09 per common share · $0.45 per Series F share · before fees
Proof Required
Yes
Broker confirmations or account statements for each transaction
What Changed Recently?
AmTrust Financial Services, Inc., several of its former officers and directors, and the underwriters of two AmTrust stock offerings — Citigroup Global Markets, Keefe, Bruyette & Woods, Morgan Stanley, RBC Capital Markets and UBS Securities — agreed to pay $19 million in cash to resolve investor claims in In re AmTrust Financial Services, Inc. Securities Litigation, pending in the U.S. District Court for the Southern District of New York. The parties accepted a mediator’s proposal on April 15, 2026, signed a Stipulation of Partial Settlement on June 8, 2026, and Judge Lewis A. Kaplan entered the order permitting notice to the classes on June 12, 2026.The lawsuit was first filed in 2017. Plaintiffs allege that the offering materials for AmTrust’s November 2015 common stock offering and September 2016 Series F preferred stock offering contained inaccurate financial statements and omitted required information, pointing to AmTrust’s 2017 disclosures of accounting corrections and a restatement of prior results. The settling defendants deny all allegations of liability, fault and wrongdoing, and the court has not decided in favor of either side.
The settlement is partial. The case continues against AmTrust’s former outside auditor, BDO USA, which is not part of this agreement.
Who Qualifies?
The court certified two subclasses for settlement purposes:- November 2015 Common Stock Subclass: all purchasers of AmTrust common stock issued in and/or traceable to the $320 million public offering conducted on or about November 11, 2015, who were damaged thereby.
- September 2016 Series F Preferred Stock Subclass: all purchasers of AmTrust 6.95% Non-Cumulative Preferred Stock, Series F, issued in and/or traceable to the $287.5 million public offering conducted on or about September 27, 2016, who were damaged thereby.
Excluded are the defendants named in the operative complaint, AmTrust’s officers and directors at all relevant times, their immediate families, legal representatives, heirs, successors and assigns, any entity in which those defendants have or had a controlling interest, and anyone who files a valid request for exclusion. Investment vehicles in which an underwriter has an interest, such as mutual funds or employee-benefit plans, are not excluded except to the extent an underwriter controls them.
Shares received by gift, inheritance or operation of law do not count as purchases unless the original purchaser bought them in a way that qualifies.
How Much Can You Get?
Payments are a pro rata share of the net settlement fund — the $19 million plus interest, minus court-approved attorneys’ fees and expenses, notice and administration costs, and taxes. Based on plaintiffs’ estimate of the number of allegedly damaged shares, the notice estimates an average distribution of about $2.09 per common share and $0.45 per Series F preferred share before those deductions. These are averages and estimates; individual payments can be higher or lower depending on the number and size of valid claims.The proposed plan of allocation splits the net fund between the two subclasses: at least two-thirds goes to common stock claimants and no more than one-third to Series F preferred claimants. Within each subclass, the administrator calculates a recognized loss for each eligible share using the statutory damages formula in Section 11(e) of the Securities Act. For common stock, shares sold before February 27, 2017 have a recognized loss of $0, and shares still held at the end of July 26, 2017 are assigned $11.61 per share. For Series F preferred bought between September 21, 2016 and April 10, 2017, shares sold before February 27, 2017 also have a recognized loss of $0; the calculation for later sales caps the purchase price at $25.00 per share.
Lead Counsel, Robbins Geller Rudman & Dowd LLP, will ask the court for attorneys’ fees of up to one-third of the settlement amount, expenses of up to $550,000, and awards to the plaintiffs of up to $40,000 combined, all paid from the fund. The notice estimates those requests would average about $0.76 per common share and $0.16 per preferred share. No distribution is made on a claim that would receive less than $10.00.
What Proof or Notice ID Is Required?
Documentation is required. The Proof of Claim asks for a schedule of every transaction in AmTrust common stock or Series F preferred stock covered by the form, supported by copies of broker confirmation slips, brokerage statements or other documents that adequately evidence the transactions. The form warns that failure to provide this documentation could delay verification or result in rejection of the claim. Claimants who no longer have the records can request copies from their broker.The Proof of Claim does not ask for an administrator-issued notice ID; the proof is the claimant’s own trading records.
What Is the Deadline?
Proofs of Claim must be postmarked (if mailed) or received (if submitted online) no later than October 7, 2026. The court order does not specify a time of day or time zone. The court order gives Lead Counsel discretion to accept late claims if doing so does not materially delay distribution, but it does not require it.Requests for exclusion must be postmarked or received by October 28, 2026, which is 21 days before the final approval hearing. Excluding oneself means receiving no payment from this settlement.
How Do You Take Action?
Claims are filed through the official AmTrust Securities Litigation website, which hosts the online claim form, the downloadable Proof of Claim, the notice and the stipulation. The claims administrator is Verita Global. A completed claim includes the beneficial owner’s information, the transaction schedule for each subclass, the supporting brokerage documents and a signature. Institutions and other filers with many accounts can contact the administrator through the website for electronic filing instructions.What Happens Next?
Judge Kaplan will hold the final approval hearing on November 19, 2026, at 10:00 a.m. at the Daniel Patrick Moynihan U.S. Courthouse in Manhattan to decide whether to approve the settlement, the plan of allocation and the fee request. The court can move the hearing or hold it by telephone without further individual notice. If the settlement is approved, payments go out only after any appeals are resolved and all claims are processed. The claims against BDO USA continue separately.Sources and Verification
- AmTrust Securities Litigation — official settlement website
- Order Regarding Proposed Partial Settlement and Permitting Notice to the Classes, with the approved Notice and Proof of Claim (June 12, 2026), In re AmTrust Financial Services, Inc. Securities Litigation, No. 1:17-cv-01545-LAK (S.D.N.Y.)
- Case docket on CourtListener
Questions
Does buying AmTrust stock on the open market count?
It can. The classes cover shares issued in or traceable to the November 2015 common stock offering or the September 2016 Series F preferred offering. Shares bought later on the open market may qualify if they can be traced to one of those offerings; the plan of allocation sets the purchase windows used for the calculation.
Why is it called a partial settlement?
The $19 million resolves the claims against AmTrust, several of its former officers and directors, and five underwriters. The case continues against AmTrust’s former outside auditor, BDO USA, which did not settle. Any later recovery from BDO is not guaranteed.
How is the money split between common and preferred shareholders?
Under the proposed plan of allocation, at least two-thirds of the net settlement fund goes to the common stock subclass and no more than one-third goes to the Series F preferred stock subclass. Within each subclass, payments are pro rata based on each claimant’s recognized loss.
Is there a minimum payment?
Yes. The notice says no distribution will be made to an authorized claimant whose payment would be less than $10.00.
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Settlement Amount
$19,000,000 (partial settlement)
Case Title
In re AmTrust Financial Services, Inc. Securities Litigation
Case Number
1:17-cv-01545-LAK
Court
U.S. District Court, Southern District of New York
Final Approval Hearing
November 19, 2026 at 10:00 AM
Judge Lewis A. Kaplan, Courtroom 21B
Administrator
Verita Global
Official Website
AmTrust Securities Litigation
