Carl Icahn files lawsuit against AmTrust, controlling family

(Reuters) - Activist investor Carl Icahn filed a lawsuit on Monday against AmTrust Financial Services Inc and the family that controls the company, accusing them of trying to take the insurer private at the wrong time and at the wrong price.

Reuters May 22, 2018 00:05:18 IST
Carl Icahn files lawsuit against AmTrust, controlling family

Carl Icahn files lawsuit against AmTrust controlling family

(Reuters) - Activist investor Carl Icahn filed a lawsuit on Monday against AmTrust Financial Services Inc and the family that controls the company, accusing them of trying to take the insurer private at the wrong time and at the wrong price.

Icahn had disclosed a 9.38 percent stake in AmTrust on May 17.

On March 1, AmTrust said it would be acquired in a $2.7 billion deal by a group of shareholders including its founding family, chief executive officer and private equity funds - a move that Icahn has strongly opposed.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by Bernard Orr)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Government aid, stock gains push U.S. wealth to pre-pandemic levels, Fed says
Business

Government aid, stock gains push U.S. wealth to pre-pandemic levels, Fed says

By Howard Schneider WASHINGTON (Reuters) - A rebounding stock market and massive federal aid payments pushed the net worth of U.S. households back to pre-coronavirus levels in the second quarter, the Federal Reserve reported on Monday, with savings accounts and equity portfolios both rising sharply despite the pandemic

Traders shun risky assets as new lockdowns loom
Business

Traders shun risky assets as new lockdowns loom

By Rodrigo Campos NEW YORK (Reuters) - Stocks across the world hit their lowest in seven weeks and other risk assets sold off on Monday on concerns over renewed lockdown measures in Europe and Britain, as well as the United States' inability to agree on fiscal stimulus that would support millions of unemployed. Oil prices fell nearly 5%, the dollar rallied and an index of emerging market currencies fell by the most in six months. The MSCI world equity index , which tracks shares in 49 countries, touched its lowest since Aug.

Traders shun risky assets as new lockdowns loom; stocks, oil tumble
Business

Traders shun risky assets as new lockdowns loom; stocks, oil tumble

By Rodrigo Campos NEW YORK (Reuters) - Stocks across the world hit their lowest in seven weeks and other risk assets also sold off on Monday on concerns over renewed lockdown measures in Europe and Britain, as well as the United States' inability to agree on fiscal stimulus that would support millions of unemployed. Oil prices fell more than 3%, the dollar rose against a basket of peers and an index of emerging market currencies fell by the most in six months. The MSCI world equity index , which tracks shares in 49 countries, ended at its lowest since Aug