March 4, 2013 / 6:11 PM / 4 years ago

U.S. court dismisses bank lawsuit over MBIA restructuring

March 4 (Reuters) - A New York court has dismissed a lawsuit by a group of banks against bond insurer MBIA Inc challenging the insurer's 2009 restructuring.

MBIA shares rose over 24 percent in afternoon trading after the ruling in the long-running case, which centered on whether it was appropriate for MBIA to split its municipal bond insurance business from its structured finance unit. (Reporting By Ben Berkowitz; Editing by Gerald E. McCormick)

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