The Ticker
Moody's, S&P, Fitch face fraud claims in investor lawsuit
1/4/13 12:52pm
Moody’s Corp. ($67.95 0.04%), Standard & Poor’s and Fitch Inc. must face fraud claims in an investor lawsuit over their ratings of a structured investment vehicle called Rhinebridge that collapsed in 2007, a judge ruled.
Morgan Stanley ($25.07 -0.12%), which helped set up the investment, also lost a bid to dismiss claims of aiding and abetting fraud in a ruling yesterday by U.S. District Judge Shira Scheindlin in Manhattan. Scheindlin narrowed the suit, dismissing other claims.
