CINCINNATI, Feb. 19, 2008 (PRIME NEWSWIRE) -- The Cincinnati class action law firm of Statman, Harris & Eyrich, LLC announces it is investigating Ambac Financial Group, Inc. (NYSE:ABK) ("Ambac") for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA") relating to the Ambac Financial Group, Inc. Savings Incentive Plan (the "Plan").
This investigation focuses on whether Plan fiduciaries breached their fiduciary duties by failing to prudently manage the Plan's assets by, among others: (a) offering Ambac stock as a Plan investment option, (b) permitting the Plan to invest in Ambac stock when it was imprudent to do so, and (c) encouraging the Plan to invest in Ambac stock while withholding or concealing material business information or financial results from the Plan's participants and beneficiaries.
Current and former employees of Ambac who hold Ambac stock in the Ambac Financial Group, Inc. Savings Incentive Plan may have a claim to recover losses in their retirement investment. If you are interested in protecting the value of your investment, please contact Elizabeth L. Hutton, Esq. at (513) 621-2666 or (888) 876-7881, or via e-mail at ehutton@statmanharris.com, without obligation or cost to you.
Statman, Harris & Eyrich, LLC has offices in Chicago, Illinois, Cincinnati, Ohio, and Dayton, Ohio. www.statmanharris.com