Credit Rating Firms Tossed From Lehman Suit

Law360, New York (March 22, 2010, 1:02 PM EDT) -- A federal judge reportedly has dismissed McGraw-Hill Cos. unit Standard & Poor's and Moody's Corp. from a wide-ranging lawsuit over the liability for as much as $96 million in investor losses incurred as a result of the sale of bankrupt investment bank Lehman Brothers Holdings Inc.'s mortgage-backed securities.

Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York granted requests for dismissal by the two credit ratings agencies in a ruling from the bench Tuesday, Reuters reported, citing a law clerk....
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