News & Analysis as of

Ambac Financial Group Fraudulent Inducement

Orrick - Finance 20/20

New York Court of Appeals Requires Ambac to Follow Repurchase Protocol and Prove Elements of Fraud Claim

Orrick - Finance 20/20 on

On June 27, 2018, the New York Court of Appeals ruled that Ambac Assurance Corporation (“Ambac“) could not recover the full $2.2 billion in damages it sought in the form of claim payouts on $25 billion worth of securitized...more

Orrick - Finance 20/20

Ambac Sues Countrywide For Alleged Fraud in Connection with $1.7 Billion in RMBS

Orrick - Finance 20/20 on

On December 27, Ambac Assurance Corporation filed a complaint against several Countrywide entities and Bank of America Corporation in New York state court, seeking to recover at least $600 million in damages in connection...more

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