Moody's, Others Cleared In Merrill Lynch MBS Suit

Law360, New York (April 5, 2010, 6:22 PM EDT) -- A federal judge has dismissed McGraw-Hill Cos., Moody's Investors Service Inc., Merrill Lynch Mortgage Lending Inc. and others from a consolidated class action over the sale of purportedly flawed mortgage pass-through certificates, finding that the plaintiffs never purchased the securities from those companies.

Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York dismissed those companies with prejudice Wednesday, along with Credit-Based Asset Servicing and Securitization LLC and First Franklin Financial Corp.

Claims against Merrill Lynch & Co. Inc., J.P....
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