Rating Agencies Off the Hook in Lehman Case

On Tuesday, U.S. District Court Judge Lewis Kaplan dismissed claims against Moody’s Investors Service and McGraw-Hill’s Standard & Poor’s in litigation over nearly $100 billion of Lehman Brothers mortgage-backed securities.

Reuters reports that investors had accused the agencies of serving conflicting roles by rating the mortgage-backed securities while helping to create and structure them. The decision could have an impact on similar litigation in other U.S. courts.

The ruling by Judge Kaplan also dismissed certain claims against individuals.

Read the Reuters article