MBIA, Inc. Securities Litigation (NYSE: MBI)
Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Participants in the MBIA, Inc. 401(k) Plan.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating MBIA, Inc. (“MBIA” or the “Company”) (NYSE: MBI – News) investment of Plan participants and beneficiaries assets in company stock. The investigation concerns whether administrators breached their fiduciary duties and violated the Employee Retirement Income Security Act of 1974 (“ERISA”) by investing assets in company stock when it was not a prudent investment for participants’ retirement savings.
Specifically, the investigation concerns improper behavior that harmed current and former employees that invested in the 401(k) plan as a result of the Company’s failure to adequately disclose the Company’s true operating condition resulting from billions of dollars of speculation on collateralized debt obligations (“CDOs”) and poor underwriting standards.
If you held MBIA stock in an individual account under any of the Company’s 401(k) plans at any time since January 1, 2007 and wish to discuss the legal ramifications of the administrator’s investment in Company stock, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.
Class Period: 2007/01/01 to
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Evan J. Smith, Esquire
Brodsky & Smith, LLC
Two Bala Plaza, Suite 510
Bala Cynwyd, PA 19004
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