MBIA Shares Volatile Amid Company Data Breach

Shares of MBIA Inc. MBI have been volatile in Tuesday’s trade as Krebs on Security reports a sizable data leak in a company web server.

The misconfiguration in the company’s web server exposed thousands of customer account numbers, balances and other sensitive data, Krebs on Security reported.

MBIA spokesperson Kevin Brown stated, ““We have been notified that certain information related to clients of MBIA’s asset management subsidiary, Cutwater Asset Management, may have been illegally accesses. We are conducting a thorough investigation and will take all measures necessary to protect our customers’ data, secure our systems, and preserve evidence for law enforcement.”

Following the announcement, shares of MBIA dropped from $9.33 to $8.97 and have rebounded slightly; now trading at $9.22.

Shares of MBIA are down roughly 20 percent year-to-date.