NEW YORK, June 30, 2016 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of Ambac Financial Group, Inc. ("Ambac" or the Company) (NASDAQ: AMBC). Such
investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
[Click here to join
a class action]
The investigation concerns whether Ambac and certain of its officers and/or directors have violated Sections 10(b) and 20(a)
of the Securities Exchange Act of 1934.
On June 29, 2015, Puerto Rico's governor announced that the
island's more than $70 billion in debt was "not payable" and Puerto
Rico would likely default on upcoming interest payments. The governor's announcement revealed Ambac's exposure and
potential liability for up to $2.5 billion of the Commonwealth's debt it insures.
On this news, Ambac stock fell $6.47 per share or 28.9%, on July
1, 2015.
The Pomerantz Firm, with offices in New York, Chicago,
Florida, and Los Angeles, is acknowledged as one of the premier
firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham
L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class
actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights
of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP