In Re Ambac Financial Group, Inc. Securities Litigation

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that “it strains credulity that [the CFO] could remain ignorant of the company’s lowered underwriting standards” where the complaint plausibly alleged that “the CEO and other senior managers were aware of them.”
• finding that stock price drops following corrective disclosures were sufficient to establish causation at the pleading stage
• holding plaintiffs’ allegations “that the Exchange Act Officers (a) knew about Ambac’s lowered underwriting standards-and affirmatively approved them-while publicly touting the company’s “cautious” and “conservative” approach to underwriting, and (b
• indicating that certification of a non-final order pursuant to Section 1292(b) is an extraordinary procedure only granted in “exceptional circumstances”
• finding officers to be controlling persons based on similar allegations derived from their positions within the company
• finding company’s “statements that Ambac’s CDO portfolio was currently outperforming the market and relevant indices” to “convey something concrete and measurable about Ambac’s financial situation, and a reasonable investor could certainly find them important to the ‘total mix’ ”

Source: CourtListener parenthetical corpus (CC0).