EQUITY ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against Ambac Financial Group, Inc. and Encourages Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / August 19, 2016 / Lundin Law PC (the "Firm") announces that a class action lawsuit has been filed against Ambac Financial Group, Inc. ("Ambac" or the "Company") (AMBC) concerning possible violations of federal securities laws between November 13, 2013 and June 30, 2015 (the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm in advance of the August 29, 2016 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here. You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period the Company issued false and misleading statements to investors and/or failed to disclose that: Ambac had far greater losses and loss exposure to anticipated defaults in its public finance bond portfolio than it had previously disclosed; Ambac's credit risk surveillance strategies were inadequate; the Company failed to implement mitigation strategies to stabilize the residual value of its financial guarantee business; the Company failed to maintain adequate internal controls over financial reporting; and as a result of the above, Ambac's financial condition was much worse than represented. When this news was revealed to the market, the stock price dropped, causing investors harm.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
This press release may be considered Attorney Advertising in certain jurisdictions under the applicable law and ethical rules.
Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/
SOURCE: Lundin Law PC
