Ambac ERISA Claimants Win OK For Limited Discovery

Law360, New York (March 4, 2011, 7:19 PM EST) -- Employee retirement plan participants suing bankrupt Ambac Financial Group Inc. over stock losses associated with the bond insurer's downfall won permission in a New York court Friday to pursue limited discovery for their case despite the bankruptcy stay.

   Judge Shelley C. Chapman of the U.S. Bankruptcy Court for the Southern District of New York gave the plaintiffs permission to engage in some information gathering efforts and seek the deposition of a former Ambac human resources executive to give the plaintiffs “something to move forward with.”...
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