Pensions Want Top Billing In Ambac Derivative Suit

Law360, New York (January 21, 2009, 12:00 AM EST) -- Two public pension funds are seeking co-lead plaintiff status in a derivative lawsuit brought by shareholders of Ambac Financial Group Inc., saying they collectively hold more than 36,000 shares in the bond insurer and have a huge stake in the outcome of the case.

The two municipal funds — Wayne County Employees Retirement System and the Trustees of the Police and Fire Retirement System of the City of Detroit — filed a motion Tuesday to intervene in the litigation in the U.S. District Court for the...
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