NEW YORK, Aug. 02, 2016 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Ambac Financial Group, Inc. securities (NASDAQ:AMBC) from November 13, 2013 through June 30, 2015, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Ambac investors under the federal securities laws.

To join the Ambac class action, go to the firm’s website at http://rosenlegal.com/cases-920.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for more information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the lawsuit, throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) Ambac had far greater losses and loss exposure to anticipated defaults in its public finance bond portfolio than it had previously disclosed; (2) Ambac’s credit risk surveillance strategies were inadequate; (3) Ambac was failing to implement mitigation strategies in a timely manner to stabilize the residual value of its financial guarantee business; (4) as a result, Ambac’s financial condition was much worse than represented; and (5) Ambac failed to maintain adequate internal controls over financial reporting. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 29, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://rosenlegal.com/cases-920.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.