Special Master Pinches Rating Agency Suit Discovery

Law360, New York (April 5, 2011, 7:33 PM EDT) -- The special master supervising a New York suit alleging Morgan Stanley and two ratings agencies deceived institutional investors about billions of dollars in lousy subprime notes on Tuesday recommended limiting depositions and additional discovery in the case.

Judge Shira A. Scheindlin docketed four reports from special master Jonathan M. Redgrave in the U.S. District Court for the Southern District of New York, potentially protecting Moody's Investors Service Inc.'s CEO from deposition, and otherwise limiting the number of depositions as well as the scope of disputed discovery...
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