Plaintiffs Fight Class Cert. Denial In Moody's Suit

Law360, New York (April 20, 2011, 8:08 PM EDT) -- A pension fund and two individuals are challenging a New York federal court's order denying them class certification in a suit against Moody's Investors Service Inc., arguing the court improperly considered loss causation when weighing their suitability for class status.

In a notice of appeal to the Second Circuit made public Wednesday, the plaintiffs, led by a pension fund and two individuals, said the district court should never have considered whether Moody's alleged misstatements caused spikes in its stock prices, saying such a level of review...
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