Ratings Agencies Get SIV Suits Pared Down

Law360, New York (May 7, 2012, 10:40 PM EDT) -- A New York federal judge on Friday slimmed down two shareholder lawsuits against Moody's Investors Service Inc. and Standard & Poor's Ratings Services over the collapse of structured investment vehicles, allowing only their claims of negligent misrepresentation to remain intact.

U.S. District Judge Shira Scheindlin dismissed the plaintiffs’ allegations of negligence, breach of fiduciary duty, and aiding and abetting in relation to the Rhinebridge and Cheyne SIVs. The suits target Moody's, Standard & Poor's, Morgan Stanley & Co. Inc., Fitch Inc., IKB Deutsche Industriebank AG and...
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Case Information

Case Title

Abu Dhabi Commercial Bank et al v. Morgan Stanley & Co. Incorporated et al


Case Number

1:08-cv-07508

Court

New York Southern

Nature of Suit

Contract: Other

Judge

Shira A. Scheindlin

Date Filed

August 25, 2008


Case Title

King County, Washington, et al v. IKB Deutsche Industriebank AG et al


Case Number

1:09-cv-08387

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Shira A. Scheindlin

Date Filed

October 2, 2009

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