No. of Recommendations: 18
On Friday, AmTrust financials, which went private, quietly announced via SEC filing they will be delisting the preferred's, because they don't want to file SEC filings (listing requirement). When the company went private they bought the shareholders but not redeemed the preferred's and now the preferred holders are effectively locked and they can very well suspend the dividend and there is no protection, recourse.

While you can argue this is not investor friendly, cheating, illegal, what else and what not, today investors have no protection. This applies to most of the preferred's.

Just be aware.
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