NU Online News Service, Dec. 13, 2:43 p.m. EST
Financial institutions Morgan Stanley and HSBC reached an agreement with guaranty insurer MBIA to withdraw from their legal challenges and go their separate ways, leaving five firms to battle it out over the insurer's restructuring and accusations the banks fraudulently secured insurance coverage.
Today, Morgan Stanley reached an agreement with Armonk, N.Y.-based MBIA to settle their differences.
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