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Moody's, Fitch, S&P Escape Securities Action

Law360 (January 14, 2011, 1:06 PM EST) -- A federal judge has let Moody's Investors Service Inc., Fitch Inc. and Standard & Poor's Financial Services LLC off the hook in a class action accusing the ratings agencies and Goldman Sachs Group Inc. of misleading investors into buying risky mortgage-backed securities.

Judge Harold Baer of the U.S. District Court for the Southern District of New York dismissed the claims against Moody's, Fitch and McGraw-Hill Cos. Inc., which owns ratings Standard & Poor's, on Thursday, nearly a year after a document was last filed in the...
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