MBIA Shares Are Surging On News Of Two Big Banks Backing Out Of Lawsuits

MBIA shares have surged over 13% in trading today as a result of two firms withdrawing lawsuits against the company.

According to The Street, both Barclays and JPMorgan have backed out of lawsuits that we're stopping from MBIA from dividing itself in two.

Now that the division is possible, a new company may come out of MBIA capable of writing new insurance on debt.

For more detail on how this new company would work and why the stock is surging, check out this presentation >