BALA CYNWYD, PA between October 19, 2005 through November 26, 2007, inclusive (the "Class Period").

The Complaint charges that defendants violated the federal securities laws by issuing materially false and misleading statements contained in press releases and filings with the Securities and Exchange Commission during the Class Period. Specifically, the Complaint alleges that during the Class Period, defendants misrepresented the Company's business and financial results related to its insurance coverage on collateralized debt obligations ("CDO") contracts. According to the complaint, the defendants concealed from the investing public: (i) that the Company's financial statements were materially misstated due to its failure to properly account for its mark-to-market losses; (ii) that, as a result of the deterioration and the increased volatility in the mortgage market, the Company would be forced to tighten its underwriting standards related to its asset-backed securities, which would have a direct material negative impact on its premium production going forward; (iii) that the Company had far greater exposure to anticipated losses and defaults related to its CDO contracts containing subprime loans, including even highly rated CDOs, than it had previously disclosed; and (iv) that the Company lacked requisite internal controls to ensure that the Company's underwriting standards and its internal rating system for its CDO contracts were adequate and, as a result, the Company's projections and reported results issued during the Class Period were based upon defective assumptions and/or manipulated facts.

If you are a member of the class described above, you may, not later than March 14, 2008 move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.

If you have any questions concerning this case or your rights or interests with respect to these and other matters in this notice, please contact: Marc S. Henzel, Esq. of The Law Offices of Marc S. Henzel, 273 Montgomery Ave, Suite 202, Bala Cynwyd, PA 19004-2808, by telephone (888) 643-6735 or (610) 660-8000, by facsimile (610) 660-8080, by e-mail at Mhenzel@Henzellaw.com or visit the firm's website at www.Henzellaw.com.

Contact: Marc S. Henzel, Esq. The Law Offices of Marc S. Henzel 273 Montgomery Ave, Suite 202 Bala Cynwyd, PA 19004-2808 (888) 643-6735 or (610) 660-8000 facsimile: (610) 660-8080 Email Contact www.Henzellaw.com

Grafico Azioni AMBAC (NYSE:ABK)
Storico
Da Giu 2024 a Lug 2024 Clicca qui per i Grafici di AMBAC
Grafico Azioni AMBAC (NYSE:ABK)
Storico
Da Lug 2023 a Lug 2024 Clicca qui per i Grafici di AMBAC