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MAY 13, 2013 - TheStreet

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MBIA Bulls Look for Catalyst After Legal Settlements

NEW YORK (TheStreet) -- MBIA bulls continue to recommend the shares after they got a much anticipated pop last week when the monoline bond insurer settled litigation with Bank of America and Societe Generale, but it's hard to see what will drive the shares higher in the near term. MBIA shares gained more than 50% at one point on May 6 when the company announced it would receive $1.6 billion from Bank of America, and that the bank would drop a legal challenge to a crucial MBIA restructuring. They added slightly to those gains May 8 once MBIA announced a settlement with Societe Generale in ... Read More

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