Moody's Triumphs In Financial Crisis-Era Stock Suit

Law360, Los Angeles (August 26, 2013, 4:59 PM EDT) -- A pension fund that alleged Moody’s Corp. had committed securities violations during the late-2000s financial crisis lost its suit Friday when a New York federal judge ruled the fund had failed to establish Moody’s was to blame for the drop in its stock price.

U.S. District Judge George B. Daniels found that Teamsters Local 282 Pension Trust Fund had failed to establish a securities violation underlying the sudden drop in Moody's stock price in 2006 and 2007. The pension fund and two of its administrators had...
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