Judge Won't Boot Moody's, S&P from Rhinebridge Suit

Law360, New York (April 28, 2010, 6:04 PM EDT) -- A federal judge has refused to drop credit rating agencies Moody's Investors Service and Standard & Poor's Financial Services LLC from twin proposed class actions over the collapse of a structured investment vehicle called Rhinebridge crafted by IKB Deutsche Industriebank AG.

In a ruling Monday, Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York denied Moody's and S&P's motion to dismiss, finding that the plaintiffs have sufficiently made their case against the two ratings agencies at this early stage...
To view the full article, register now.