AmTrust Declines After GeoInvesting Challenges Accounting
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AmTrust Financial Services Inc., the insurer that bought an auto-warranty business from Ally Financial Inc., plunged after GeoInvesting challenged the company’s accounting.
AmTrust dropped $4.63, or 12 percent, to $33.67 at 4 p.m. in New York, paring its gain for the year to 29 percent. Barry Zyskind, the insurer’s CEO, said the company has “never been stronger” and was being targeted by investors who profit when the stock falls.