MBIA Explodes Higher After Winning Case Against Banks Challenging Its Restructuring

Big news: Shares of MBIA are exploding higher — currently by over 20% — on news that an appeals court has dismissed a lawsuit brought by banks over its restructuring.

Recall that during the worst of the crisis, there was an attempt to create a good monoline/bad monoline. That was challenged by banks.

This chart shows, essentially, the time line of the split, and who the key stakeholders were:

MBIA

Click here for more on why this is a key catalyst going forward >

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