Main St. CEO Tapped For Moody's Special Master

Law360, New York (June 25, 2009, 12:00 AM EDT) -- A federal judge overseeing a consolidated class action claiming Moody's Investors Service misled investors about its independence from the entities it rated has appointed the founder of Main Street Advisors LLC as special master in the case and approved a monthly compensation package of $85,000.

Judge Shirley Wohl Kram signed off on the appointment and the compensation package of Paul D. Wachter on Wednesday in the U.S. District Court for the Southern District of New York.

As special master, Wachter will oversee discovery and settlement negotiations...
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