MBIA Inc. Surged Higher Following Court Ruling

Court Watch Posted on

MBIA Inc. announced Tuesday afternoon that the Appellate Division of the New York State Supreme Court reversed an earlier decision by a lower court and granted MBIA's motion to dismiss the plenary lawsuit brought by a group of banks challenging the Company's transformation.

MBIA Inc. broke out sharply to the upside in the second half of the morning Tuesday and finished higher by 1.25 at $13.53, with volume at a 9-month high. The stock rose past resistance and set a new high for the year.

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