Claims Pared In Ambac Shareholder Class Action

By Abigail Rubenstein

Law360, New York (February 23, 2010, 1:59 PM ET) -- A federal judge has trimmed some claims in a shareholder class action alleging that bond insurer Ambac Financial Group Inc. assured investors that the company was maintaining a cautious strategy while it was in fact insuring increasingly risky financial products.

Judge Naomi Reice Buchwald of the U.S. District Court for the Southern District of New York on Monday dismissed the plaintiffs' claims in relation to a stock offering in March 2008, but left intact the class' claims against the insurer, its principals and underwriters over a...
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