Ratings Agencies Get SIV Suits Pared Down

Law360, New York (May 7, 2012, 10:40 PM EDT) -- A New York federal judge on Friday slimmed down two shareholder lawsuits against Moody's Investors Service Inc. and Standard & Poor's Ratings Services over the collapse of structured investment vehicles, allowing only their claims of negligent misrepresentation to remain intact.

U.S. District Judge Shira Scheindlin dismissed the plaintiffs’ allegations of negligence, breach of fiduciary duty, and aiding and abetting in relation to the Rhinebridge and Cheyne SIVs. The suits target Moody's, Standard & Poor's, Morgan Stanley & Co. Inc., Fitch Inc., IKB Deutsche Industriebank AG and...
To view the full article, register now.