Litigation involving MBIA has been keeping investors on edge for four years now, as the bond insurer wages war with the banks whose financial products it insured in the run-up to the economic crisis. It's also generated some wrenching reversals of fortune for the lead lawyers battling over MBIA's 2009 restructuring, which the banks say allowed the company to shirk its obligations to structured finance policyholders.

Will the inflammatory allegations spur big investors who bought ill-fated CDOs to take action against Goldman and others?

Cite as: Glacken v. The Incorporated Village Of Freeport, 09-4832, NYLJ 1202473146755, at *1 (Ed NY, Decided October 06, 2010)District Judge Denis R. Hurley

The plaintiffs lawyers' shareholder suit over last year's leveraged buyout of Del Monte Corporation finally ended Thursday with Del Monte and Barclays agreeing to a combined $89.4 million settlement. But Grant said the case will also have a lasting change on the way big deals are financed.

After months of cutting quiet deals with banks in the high-stakes Manhattan state court litigation challenging its 2009 restructuring, MBIA Inc. reached a major settlement with Morgan Stanley on Tuesday. But for some of MBIA's Wall Street adversaries, the notion that MBIA had to rely on a loan to fund part of the settlement vindicates their claims that the insurer's restructuring was a fraud.