MBIA Inc. (MBI)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of MBIA Inc. (MBI)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of MBIA, Inc. (“MBIA” or “the Company”) (NYSE: MBI). The investigation concerns whether MBIA and certain of its officers and/or directors have violated federal securities laws.
On August 6, 2019, post-market, MBIA issued a press release announcing its financial results for the second quarter of 2019. The Company reported a consolidated GAAP net loss of $170 million, or $2.02 per share, compared to a consolidated GAAP net loss of $146 million, or $1.64 per share, for the second quarter of 2018. MBIA advised investors that the loss “was mainly driven by loss and loss adjustment expense primarily related to our insurance on Puerto Rico bonds” and that “[f]air value losses on interest rate swaps resulting from lower interest rates also contributed”. On this news, MBIA’s stock price fell sharply during intraday trading on August 7, 2019.
If you are aware of any facts relating to this investigation, or purchased MBIA shares, you can learn more about the investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.