2nd Circ. Remands MBIA Class Action Fraud Suit

Law360, New York (November 14, 2008, 12:00 AM EST) -- Investors will get another chance to bring a class action suit against bond insurer MBIA Inc. over alleged accounting misdeeds that allowed the company to avoid reporting a $170 million loss, a federal appeals court has ruled.

The U.S. Court of Appeals for the Second Circuit on Wednesday remanded their case, which had been dismissed on grounds that the statute of limitations had expired, to the U.S. District Court for the Southern District of New York with the understanding that the plaintiffs could file a new...
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