IRVINE, CA / ACCESSWIRE / August 29, 2016 / Khang & Khang LLP (the "Firm") announces a class action lawsuit has been filed against Ambac Financial Group, Inc. ("Ambac" or the "Company") (NASDAQ: AMBC). Investors who purchased or otherwise acquired shares between November 13, 2013 and June 30, 2015 inclusive (the "Class Period"), are encouraged to contact the Firm by the August 29, 2016 lead plaintiff motion deadline.
If you purchased shares of Ambac during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The complaint alleges that during the Class Period, Ambac issued false and misleading statements to investors and/or failed to disclose that: the Company 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 information was disclosed to the public, the Company's stock price decreased, causing investors harm.
If you wish to learn more about this lawsuit, or if you have any questions regarding this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in certain jurisdictions.
Contact:
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
[email protected]
SOURCE: Khang & Khang LLP