Faruqi & Faruqi, LLP Launches An Investigation Against Ambac Financial Group (AMBC) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Ambac Financial Group (“Ambac” or the “Company”) (NasdaqGS: AMBC) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for Ambac’s 2013 Incentive Compensation Plan.
Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on November 8, 2013, the Board of Directors recommends that Ambac’s shareholders vote to approve an amendment to the 2013 Incentive Compensation Plan to increase the number of shares issuable under the plan by up to 4,000,000. The issuance of the additional shares could have a substantial dilutive effect on the shares of Ambac common stock.
If you own common stock in Ambac and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.