Keller Rohrback L.L.P. Announces Ongoing ERISA Investigation of the MBIA Inc. 401(k) Plan

SEATTLE, Jan. 18 /PRNewswire/ -- Attorney Advertising. Keller Rohrback L.L.P. (http://www.erisafraud.com/) announces an ongoing investigation into MBIA Inc. ("MBIA" or the "Company") for potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). In light of the Company's recent disclosures and the capital problems described therein, the investigation focuses on investments in MBIA stock by the MBIA Inc. 401(k) Plan (the "Plan").

Recently, MBIA announced that its subsidiary, MBIA Insurance Corporation, was offering $1 billion in Surplus Notes due in 2033 at an initial interest rate of 14 percent. The offering is a reaction to the capital crisis at the Company caused by increased risk of defaults in the subprime market. Moody's has placed the Company's credit ratings on review for a possible downgrade.

Keller Rohrback's investigation involves concerns that MBIA and other administrators of the Plan may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plan. A breach may have occurred if the fiduciaries failed to manage the assets of the Plan prudently and loyally 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 may contact paralegal Jennifer Tuato'o or attorneys Tyler Farmer, Derek Loeser or Lynn Sarko toll free at 800/776-6044, or via e-mail at [e-mail].

Keller Rohrback is one of America's leading law firms handling ERISA retirement plan litigation. We are committed to helping employees and retirees protect their retirement savings. Keller Rohrback serves as lead and co-lead counsel in numerous ERISA class action cases, including cases against Enron, WorldCom, Inc., HealthSouth, and Marsh & McLennan Companies, as well as ERISA cash balance pension plan cases, including JPMorgan Chase & Co. Keller Rohrback has successfully provided class action representation for over a decade. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.

CONTACT: Keller Rohrback L.L.P. Jennifer Tuato'o Paralegal 800/[e-mail]://www.erisafraud.com/ Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.