In re: Ambac

CONCLUDED

Hearing
09/24/08 – 09/24/08

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Summary

On February 13, 2008, Kohn, Swift, & Graf, P.C. filed a derivative action in the Court of Chancery of the State of Delaware on behalf of nominal defendant Ambac Financial Group, Inc. (“Ambac” or the “Company”) against certain of its directors and officers for breach of their fiduciary duties to the Company. The relevant time period for the derivative action is from October 19, 2005 through February 13, 2008.

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