Fitch Settles Investor Suit Over Toxic MBS Vehicle

Law360, Los Angeles (March 18, 2013, 10:45 PM EDT) -- Credit ratings agency Fitch Ratings Inc. on Monday settled a long-running shareholder class action over the collapse of a structured investment vehicle that may have held more than $1 billion in toxic mortgage-backed securities.

In an order filed in New York federal court, U.S. District Judge Shira A. Scheindlin dismissed Fitch from a second amended consolidated complaint and directed plaintiffs King County, Wash., and Iowa Student Loan Liquidity Corp. to pay their own attorneys' fees and costs. The terms of the settlement were not disclosed....
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