Judge dismisses claims against rating agencies regarding MBS

01/27/2010 | Bloomberg

District Judge Lewis Kaplan dismissed investors' claims against Moody's and Standard & Poor's in regard to roughly $100 billion in mortgage-backed securities. Kaplan said the provisions of securities law at issue do not cover credit rating agencies. Investors said they were misled by the firms, which allegedly disregarded rating guidelines and had a conflict of interest in evaluating and structuring mortgage-backed bonds.

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