MBIA Barred From Municipal Bond MDL Exit

Law360, New York (May 4, 2010, 12:27 PM EDT) -- A federal judge has denied reconsideration of an earlier decision not to dismiss bond insurer MBIA Inc. from multidistrict litigation over the role of dozens of financial services giants in alleged price-fixing of municipal bonds.

Judge Victor Marrero of the U.S. District Court for the Southern District of New York said in a decision Monday that MBIA's motion for reconsideration raised points that he had already found “meritless” in his ruling refusing the company's dismissal bid.

“The motion at hand cites no controlling law or factual...
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