Ambac Financial Group Inc. AMBC, -1.13% said Wednesday it's pleased with a decision by the Supreme Court of the State of New York's to allow its 2014 fraud lawsuit against Countrywide and Bank of America Corp. BAC, -1.92% to go forward to trial in front of a jury. The court denied Countrywide's motion for summary judgment in the case: Ambac Assurance Corp. vs. Countrywide Home Loans Inc., Countrywide Securities Corp., Countrywide Financial Corp., and Bank of America Corp. Ambac said the trial is now scheduled to begin in January, 2024, but the court may reschedule the trial for an earlier time. Ambac said it's seeking to recover hundreds of millions in losses and punitive damages for allegations that Countrywide "made false and intentionally misleading representations" to Ambac about its mortgage origination practices and the "purported quality of its mortgage loans." Ambac said it continues to pursue additional claims against Bank of America in a 2010 lawsuit going to trial on Sept. 7. Shares of Ambac are down 4.9% so far in 2022 compared to a 16.4% drop by the S&P 500 SPX, -0.97%. www.marketwatch.com/story/...y-trial-2022-08-31?siteid=yhoof2