Law360, New York (February 23, 2009, 12:00 AM ET) -- A federal judge shot down aspects of both claims in a class action alleging that Moody's Investors Service misled investors about its independence from the entities that it rated, but gave plaintiffs the green light to file a second amended complaint.
On Wednesday, in the U.S. District Court for the Southern District of New York, Judge Shirley Wohl Kram issued a 52-page mixed ruling on Moody's motion to dismiss the suit that was brought by the Teamsters Local 282 Pension Trust Fund against the company and...
Judge Clips Moody's Securities Class Action
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