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AMBC - Ambac lawsuit v. Countrywide over financial crisis-era MBS gets 2022 trial date
Ambac Financial Group Inc.
Ambac (NYSE:AMBC) discloses a trial date for its lawsuit against Countrywide Home Loans/Bank of America (NYSE:BAC) is set to start Sept. 7, 2022, according to an SEC filing. Ambac (AMBC) sued BofA (BAC) in 2014 for more than $600M of losses it suffered related to $1.68B of Countrywide-related MBS it insured. A trial that was set to begin in February 2021 was postponed at the end of last year due to the COVID-19.