Rating agencies win dismissal of lawsuits

The three major U.S. credit rating agencies won the dismissal of lawsuits seeking to hold them liable as “underwriters” for helping banks structure securities transactions to achieve desired ratings.

The 2nd U.S. Circuit Court of Appeals in New York upheld the dismissal of three lawsuits against McGraw-Hill Co’s Standard & Poor’s, Moody’s Corp’s Moody’s Investors Service and Fimalac SA’s Fitch Ratings.

Read more: Rating agencies win dismissal of lawsuits — Reuters

Blog Widget by LinkWithin