San Diego, CA -- (SBWIRE) -- 07/05/2016 -- An investor, who purchased shares of Ambac Financial Group, Inc. (OTCMKTS:ABKFQ), filed a lawsuit in New York over alleged Securities Laws violations by Ambac Financial Group, Inc..

Investors who purchased shares of Ambac Financial Group, Inc. (OTCMKTS:ABKFQ) have certain options and for certain investors are short and strict deadlines running. Deadline: August 29, 2016. OTCMKTS:ABKFQ investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges on behalf of purchasers of Ambac Financial Group, Inc. (OTCMKTS:ABKFQ) common shares between November 13, 2013 and June 30, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 13, 2013 and June 30, 2015 Ambac Financial Group, Inc made materially false and misleading statements and omitted material facts concerning the Company's losses and loss exposure on its public finance bond portfolio, risk management, and internal controls.

Following the June 29, 2015 revelation that Puerto Rico would likely default on upcoming interest payments, and that as a result, Ambac Financial Group, Inc was potentially liable for up to $2.5 billion worth of Commonwealth debt Ambac Financial Group, Inc insured, Ambac Financial Group, Inc stock fell approximately 29%.

Then on May 11, 2016, Ambac Financial Group, Inc admitted in an SEC filing that management "had identified a material weakness in its internal control over financial reporting."

Those who purchased shares of Ambac Financial Group, Inc. have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com