September 8, 2008

AMBAC FIN’L: Continues to Face Bond Issue Lawsuit in New Orleans

COMPANIES: Ambac Assurance Corp | Ambac Financial Group Inc | PaineWebber Group Inc
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Ambac Financial Group, Inc. is a defendant in a lawsuit filed by the City of New Orleans in connection with its participation in a New Orleans bond issue.

New Orleans issued variable rate demand bonds (VRDBs), which were insured by Company…

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