Mbia announces settlement with credit suisse

Purchase, n.y.--(business wire)--mbia inc. (nyse: mbi) (the company) today announced that its wholly-owned subsidiary, mbia insurance corporation (mbia corp.) has entered into an agreement to settle the litigation it filed in 2009 against credit suisse securities (usa) llc and certain affiliated entities. the settlement followed a post-trial decision by the court awarding mbia corp. approximately $604mm in damages, and pursuant to the settlement credit suisse has paid mbia corp. $600mm. this am
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