The nasty litigation between a group of banks and bond insurer MBIA (MBI -1.2%) gets much...

|About: MBIA Inc. (MBI)|By:, SA News Editor

The nasty litigation between a group of banks and bond insurer MBIA (MBI -1.2%) gets much nastier, as a lawyer for the banks accuses MBIA CEO Joseph Brown of illegally trading in his company's stock while in possession of confidential information. The insider trading claim was made during a hearing Friday at Federal District Court in Manhattan.