Financial Group, Inc. (OTC: ABKFQ) ("Ambac Financial") announced today that, in order to give it additional time to negotiate a final settlement of its dispute with the Department of the Treasury – Internal Revenue Service, the voting deadline relating...

Financial Group, Inc. (OTC: ABKFQ) (“Ambac Financial”) today announced that, in order to give Ambac Financial additional time to negotiate a final settlement of its dispute with the Department of the Treasury - Internal Revenue Service, the voting...

Hercules Redevelopment Agency will not make a $2.4 million bond interest payment due Feb. 12 and has advised its bond insurer accordingly, City Manager Steve Duran announced late Monday night. Hercules had attempted to negotiate a settlement with the...

Financial Group Inc. (ABKFQ)’s $27.1 million settlement of a class-action lawsuit was approved by a U.S. judge who said the deal was reasonable and would allow the bankrupt company to complete its Chapter 11 plan. The Police and Fire Retirement System...

Financial Group Inc. (ABK), the holding company for a failed bond insurer, had $29.6 million in unrestricted cash as of Nov. 30, according to a report to the U.S. Bankruptcy Court in New York. Ambac, which already has a plan to exit bankruptcy that...

"It was a road map to what several years later was an overwhelming victory in a federal court trial," Rofsky recalls. In 1994, a Texas jury awarded the investors about $80 million. Later, when Rofsky was a managing director at bond insurer Ambac...