Thieler Law Corp advises investors with losses exceeding $100,000 of the August 29, 2016 lead plaintiff deadline in a class action lawsuit filed against Ambac Financial Group Inc (NASDAQ: AMBC) (“Ambac” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Ambac Financial Group securities between November 13, 2013 and June 30, 2015, have until August 29, 2016 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Ambac Financial Group securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly 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.

On June 29, 2015, the governor of Puerto Rico disclosed that the island's debt of over $70 million was "not payable" and Puerto Rico would soon be unable to pay its upcoming interest payments.

On May 11, 2016, Ambac disclosed in an SEC filing that management, "had identified a material weakness in its internal control over financial reporting."

If you were negatively impacted by your investment in Ambac Financial Group securities between November 13, 2013 and June 30, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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