September 05, 2017
Ambac Financial Group Inc. was cut loose Tuesday from a proposed class action accusing the bond insurer and its executives of misleading investors about its $2.5 billion Puerto Rican bond portfolio and exposure to losses, with a New York federal judge finding no alleged signs of intentional fraud or concealment.
April 27, 2017
Investors accusing Ambac Financial Group Inc. of misleading them about its $2.5 billion Puerto Rican bond portfolio have asked a New York federal court to keep their proposed class action alive, saying Tuesday that the bond insurer's cautionary statements were too boilerplate to protect it from liability.
June 29, 2016
An investor hit Ambac Financial Group Inc. with a proposed class action in New York federal court on Tuesday, accusing the bond holder and its executives of misleading investors about its public finance bond portfolio including $2.5 billion in Puerto Rican bonds, saying the company failed to disclose its true loss exposure.