Federal Court Allows Fraud Claims Against Moody’s and S&P To Proceed

Basil Katz, Reuters A Manhattan federal judge on Friday refused to dismiss a lawsuit seeking to hold credit rating agencies responsible for misleading investors about the safety of a risky debt vehicle that they rated. U.S. District Judge Shira Scheindlin denied a bid by Moody’s Investors Service and Standard & Poor’s to dismiss the claims, […]