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Ambac Retreats from BofA Litigation



By: Zacks Equity Research

May 01, 2012 |


| ABKFQ |


Bank of America Corp. (BAC - Analyst Report) has hit the headlines again for issues related to its Countrywide settlement. This time Ambac Assurance Corp., whose holding company is Ambac Financial Group Inc. (ABKFQ), has pulled itself out from the litigation over BofA’s projected $8.5 billion mortgage bond settlement for Countrywide. This was reported by Bloomberg, which cited a court filing.

Ambac, however, did not provide a reason for this retreat. Notably, a number of investors, including Ambac, had opposed BofA’s anticipated settlement or wanted more information
 
aus der Diskussion: AMBAC der Phönix aus der Asche?
Autor (Datum des Eintrages): CoolerAktionaer  (02.05.12 21:15:23)
Beitrag: 35,626 von 35,982 (ID:43112817)
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