MINNEAPOLIS, Feb. 1, 2008 (PRIME NEWSWIRE) -- Charles H. Johnson & Associates announces that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of MBIA, Inc. ("MBIA" or the "Company") (NYSE:MBI) publicly traded securities during the period January 30, 2007 through January 9, 2008 (the "Class Period").
The Complaint alleges that during the Class Period Defendants violated the federal securities laws by issuing false and misleading press releases, financial statements, SEC filings and other public statements. Throughout the Class Period, Defendants misrepresented and/or failed to disclose the true extent of MBIA's exposure to losses stemming from MBIA's insurance of residential mortgage backed securities ("RMBS"). This exposure was finally disclosed in a series of public statements beginning on December 19, 2007 and ending on January 9, 2008, the last day of the Class Period.
If you are a member of the proposed Class, you may move the Court to serve as a lead plaintiff for the Class on or before March 11, 2008. You do not need to be a lead plaintiff in order to share in any recovery that may be obtained.
If you purchased MBIA, Inc. securities during the Class Period, or have any questions, please contact:
Neal Eisenbraun, Esq. (cjohnsonlaw@gmail.com)
Charles H. Johnson & Associates
2599 Mississippi Street
New Brighton, MN 55112
(651) 633-5685