1st Amendment Bars Ratings-Based Claims: Moody's

Law360, New York (September 7, 2007, 12:00 AM EDT) -- In an effort to buttress its motion to dismiss Lloyds TSB Bank PLC's securities suit, Moody's Investors Service Inc. on Thursday cited an appellate court decision holding that the First Amendment prevents Lloyds' claims.

Lloyds's securities suit is related to National Century Financial Services Inc.'s 2002 collapse, and is proceeding under the umbrella of that multidistrict litigation.

In a suggestion of additional authority filed Thursday in the U.S. District Court for the Southern District of Ohio, the credit ratings, research and risk analysis provider argued that...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.