Ordinance authorizing a settlement of the lawsuit filed by the City and County of San Francisco against Ambac Assurance Corp. and its affiliate, Ambac Financial Group Inc. for $679,202; the lawsuit was filed on October 8, 2008, in San Francisco Superior Court, Case No. CGC-08-480708; entitled City and County of San Francisco v. Ambac Financial Group Inc., et al.; the lawsuit involves breach of contract, fraud and antitrust claims against bond insurance companies; this partial settlement applies only to claims against the two Ambac entities.

Committee

Clerk of the Board

Requested by

City Attorney

Introduced

June 6, 2017

On agenda

June 6, 2017

Passed

July 21, 2017

Enacted

July 21, 2017

Enactment no.

149-17