Bond insurer MBIA sues banks over defaulted Puerto Rico bonds [Reuters]
MBIA Inc. (MBI)
US:NYSE Investor Relations:
investor.mbia.com
Company Research
Source: Reuters
Bond insurer MBIA sues banks over defaulted Puerto Rico bonds - Reuters 2 Min Read Aug 8 (Reuters) - Bond insurance company MBIA Inc sued several financial institutions on Thursday over their role in underwriting billions of dollars of Puerto Rico bonds that eventually went into default. The lawsuit filed in superior court in San Juan claimed the banks “inflicted a financial tragedy” on the now-bankrupt U.S. commonwealth by urging it to issue “unsustainable” debt. “That debt bankrupted the commonwealth and its agencies while the banks enriched themselves through massive fees,” the lawsuit stated. Puerto Rico filed for bankruptcy in 2017 to restructure about $120 billion of debt and pension obligations. According to the lawsuit, major banks underwrote more than $66 billion of bonds issued between 2001 and 2014 by Puerto Rico and its agencies, earning hundreds of millions of dollars in fees. The defendants are: UBS Financial Services Inc, UBS Securities LLC, Citigroup Global Markets Inc
Show less
Read more
Impact Snapshot
Event Time:
MBI
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
MBI alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
MBI alerts
High impacting MBIA Inc. news events
Weekly update
A roundup of the hottest topics
MBI
News
- MBIA Inc. (NYSE: MBI) was upgraded by analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating. They now have a $9.00 price target on the stock, up previously from $6.50.MarketBeat
- Wall Street Analysts Think MBIA (MBI) Could Surge 33.78%: Read This Before Placing a Bet [Yahoo! Finance]Yahoo! Finance
- Kahn Brothers' Strategic Exits and Acquisitions in Q3 2024: Spotlight on MBIA Inc [Yahoo! Finance]Yahoo! Finance
- MBIA Inc (MBI) Q3 2024 Earnings Call Highlights: Navigating Financial Challenges and Strategic ... [Yahoo! Finance]Yahoo! Finance
- MBIA Inc. Reports Third Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
MBI
Earnings
- 11/7/24 - Miss
MBI
Analyst Actions
- 11/18/24 - Keefe, Bruyette & Woods
MBI
Sec Filings
- 11/21/24 - Form 4
- 11/19/24 - Form 144
- 11/7/24 - Form 10-Q
- MBI's page on the SEC website