Ambac Financial Gets Subpoena From Massachusetts Gov
Ambac Financial Gets Subpoena From Massachusetts Gov
Last Update: 2/29/2008 6:35:50 PM
DOW JONES NEWSWIRES
Ambac Financial Group Inc. (ABK) said it recently received a subpoena duces tecum
and interrogatories from the Securities Division of the Office of the Secretary
of the Commonwealth of Massachusetts that seeks certain information and documents
concerning Massachusetts public issuer bonds.
The New York troubled bond issuer disclosed the subpoena in its annual report
filed Friday with the Securities and Exchange Commission.
Ambac also disclosed in its annual report that it has been named in at least four
federal securities putative class action suits and at least seven shareholder
derivative actions.
The law suits charged Ambac and its officers with issuing false and misleading
statements regarding its insurance coverage on collateralized debt obligation
contracts and conducting alleged insider trading on non-public information.
Shares of Ambac rose 21 cents to $11.35 in after-hours trading.
-Denise Jia, Dow Jones Newswires; 202-862-1359; denise.jia@dowjones.com
(END) Dow Jones Newswires
February 29, 2008 18:35 ET (23:35 GMT)
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