Hedge Funds' Class Action Over MBIA Split Lives On

Law360, New York (February 12, 2010, 3:16 PM EST) -- A federal judge has said that a class action brought by a group of hedge funds alleging that MBIA Inc. committed fraud through its February 2009 reorganization can move forward, citing significant disagreements between the parties over regulators' approval of the splitting of the bond insurer.

Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York on Thursday also denied MBIA's motion to stay the federal class action pending the outcome of a parallel case in New York state court....
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