Law360, New York (March 09, 2010, 5:36 PM ET) -- Ambac Financial Group Inc. is appealing a decision by a federal judge in New York to allow a shareholder class action against the bond insurer to go forward, in spite of the fact the judge already pared back some claims relating to a 2008 stock offering.
The company alerted the U.S. District Court for the Southern District of New York on Monday it would appeal Judge Naomi Reice Buchwald's decision to fully dismiss only two of the seven claims against it in pending multidistrict litigation....
Ambac Appeals Remaining Claims In Shareholder Suit
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