MBIA, Investors Strike $4M Deal To Settle Accounting Suit

Law360, New York (September 5, 2012, 3:33 PM EDT) -- A class of investors asked a New York federal judge Tuesday to approve a $3.75 million settlement in their suit alleging monoline insurer MBIA Inc. hid $170 million in losses that artificially inflated its share price between 2003 and 2005.

"The proposed settlement is an excellent result for the class under the circumstances, satisfies the governing standards in this circuit, and is well within the range of fairness, adequacy and reasonableness so as to warrant the court's preliminary approval and authorization for dissemination of notice of...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.