ABK eliminates quarterly dividend in Dec to preserve capital and Securities fraud suit amended on Jan 20.
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Ambac Financial Group Inc
Gardy & Notis, LLP Files Amended Securities Fraud Class Action f
Gardy & Notis, LLP Files Amended Securities Fraud Class
Action for Purchasers of Structured Repackaged Asset-Backed
Trust Securities, Callable Class A Certificates, Series 2007-
1, STRATS(SM) Trust for Ambac Financial Group, Inc.
Securities, Series 2007-1 -- GJW
ENGLEWOOD CLIFFS, N.J., Jan. 20, 2009 (GLOBE NEWSWIRE) -- Gardy & Notis, LLP has filed an amended complaint in the securities fraud class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of Structured Repackaged Asset-Backed Trust Securities, Callable Class A Certificates, Series 2007-1, STRATS(SM) Trust for Ambac Financial Group, Inc. Securities, Series 2007-1 ("STRATS") (NYSE:GJW) from the date of issuance on June 29, 2007, through and including April 22, 2008 (the "Class Period").
The case has been assigned No. 08 Civ. 11241. The defendants in the case are Robert J. Genader, Sean T. Leonard and Ambac Financial Group, Inc. The complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing a series of false and misleading statements concerning the financial results and operations of Ambac Financial Group, Inc.
If you purchased STRATS during the Class Period and have sustained damages, you may, no later than March 2, 2009, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation, and you must meet certain legal requirements to serve as a lead plaintiff.
For more information regarding the lawsuit or to obtain a copy of the complaint, please contact plaintiff's counsel, Charles A. Germershausen or Kelly A. Noto at Gardy & Notis, LLP:
