BAC - Ambac files appeal over Countrywide fraud claim; February trial postponed

Ambac (AMBC) files an appeal of a court decision that dismissed Ambac's fraud claim against Countrywide Home Loans, which is now part of Bank of America (BAC).AMBC falls 0.5% in after-hours trading.The trial court issued the decision on Dec. 4 and Ambac filed the appeal on Dec. 17, according to an SEC filing.In addition, Ambac said a trial court granted its motion to postpone a trial regarding Ambac's litigation against Countrywide, which was set to begin on Feb. 22, 2021, due in part to health risks for trial participants posed by the COVID-19 pandemic.The court hasn't yet set a new trial date.

For further details see:

Ambac files appeal over Countrywide fraud claim; February trial postponed