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ISS, Glass Lewis recommend a vote against Canyon's nominee to Ambac board

Institutional Shareholder Services Inc. and Glass Lewis haverecommended that stockholders of Ambac Financial Group Inc. vote for all of the company'sdirector nominees at an annual meeting to be held May 18, Ambac Financial said.

The proxy advisory firms recommended a vote againstCanyon Capital AdvisorsLLC's nominee to replace Chairman Jeffrey Stein, saying Canyonhas failed todemonstrate the need for additional changes to Ambac's board.