NEW YORK--(BUSINESS WIRE)--Newman Ferrara LLP announced today that the firm is conducting an investigation on behalf of shareholders of Ambac Financial Group, Inc. (“Ambac” or the “Company”)(NASDAQ:AMBC) focusing on potential breaches of fiduciary duty by the Company’s Board of Directors (the “Board”).
Ambac is a financial services holding company headquartered in New York City. Since the Company’s reorganization and emergence from bankruptcy in 2013, Ambac has not made significant steps towards recovery, it has experienced a significant deterioration of its guarantee portfolio, has not maintained effective internal controls over financial reporting, and has taken various other actions which adversely impact the Company’s financial condition. Despite these facts, the Board continues to make decisions, without shareholder approval, that significantly diminish shareholder value and do not benefit the Company.
Current Ambac stockholders seeking more information on this matter are invited to contact Newman Ferrara attorneys Jeffrey Norton (firstname.lastname@example.org) or Roger Sachar, Jr. (email@example.com) to discuss this investigation and their rights.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.