PHILADELPHIA, Jan. 15, 2008 (PRIME NEWSWIRE) -- The law firm of Spector Roseman & Kodroff, P.C. announces that it has begun an investigation into MBIA, Inc. ("MBIA" or the "Company") (NYSE:MBI) for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation focuses on investments in MBIA stock by the MBIA Inc. 401(k) Plan (the "Plan").
Spector Roseman & Kodroff's investigation involves concerns that administrators of the Plan may have breached their ERISA-mandated fiduciary duties to Plan participants and beneficiaries. A breach of fiduciary duties occur when fiduciaries fail to manage the assets of the Plan in the sole interest of the plan participants by investing the assets in Company stock when it was no longer a prudent investment for participants' retirement savings.
If you are a member of the MBIA 401(k) Plan and purchased or held MBIA stock in the Plan, you can contact Spector Roseman & Kodroff, P.C. at classaction@srk-law.com for a more thorough explanation of the investigation and how you may have been harmed. Even if you have relatively small losses, a class action lawsuit can protect your rights at no cost to you.
If you wish to join this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel Robert M. Roseman or Ted Lieverman at the firm's toll-free number, 888-844-5862, or e-mail at classaction@srk-law.com. For more detailed information about the firm, you may visit its website at http://www.srk-law.com.
Spector Roseman & Kodroff, P.C., a Philadelphia, Pennsylvania law firm, concentrates its practice in class action and complex litigation, including actions dealing with securities laws, antitrust, contract and commercial claims, and labor and employment. The firm is active in major litigation pending in federal and state courts throughout the United States, including claims for participants of employee benefit funds under ERISA and other laws. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions. As a result of the efforts of the firm, billions of dollars have been recovered through judgments and settlements on behalf of injured class members.
The Spector, Roseman & Kodroff P.C. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2010