Moody's Says Whistleblower's Suit Alleges No False Claims

By William Gorta (August 18, 2016, 10:02 PM EDT) -- Moody's Corp. asked a New York federal judge on Thursday to toss the sole remaining claim in a suit alleging the credit rating powerhouse gamed its ratings of troubled mortgage securities, saying that a second amended complaint fails to show that Moody's made false claims to the government.

Moody's argued in a hearing on its motion to dismiss that Ilya Eric Kolchinsky, a former Moody's managing director turned whistleblower, did not point to a specific falsehood that Moody's is alleged to have made that was tied to a payment from the government. In fact, said Moody's attorney James J. Coster of...

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