MBIA (MBI) sinks 5.5% AH after it fails to win summary judgement against Bank of America's (BAC)...

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

MBIA (MBI) sinks 5.5% AH after it fails to win summary judgement against Bank of America's (BAC) Countrywide unit in a lawsuit over whether the bank breached its obligations to repurchase loans. Attorney Christian Herzeca notes the judge found each point of law in MBIA's favor, but as "sufficient facts remain in dispute," a trial is necessary.