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Saturday, May 25, 2024 | Back issues
Courthouse News Service Courthouse News Service

Ambac Directors Accused Of Dumping Stock

WILMINGTON, DEL. (CN) - Directors of Ambac Financial Group failed to disclose Ambac's exposure to subprime mortgage losses and dumped $130 million of their own shares at inflated prices before share price dropped by 95 percent, shareholders claim in Delaware Chancery Court.

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