2ND CIRCUIT UPHOLDS DISMISSAL OF SUBPRIME SUIT AGAINST CREDIT RATING AGENCIES In re Lehman Bros. Mortgage-Backed Sec. Litig. | Secondary Sources | Westlaw

2ND CIRCUIT UPHOLDS DISMISSAL OF SUBPRIME SUIT AGAINST CREDIT RATING AGENCIES In re Lehman Bros. Mortgage-Backed Sec. Litig. | Secondary Sources | Westlaw

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17 No. 1 Westlaw Journal Securities Litigation & Regulation 2
Westlaw Journal Securities Litigation & Regulation
*1 May 17, 2011
Subprime
Copyright © 2011 Thomson Reuters .

2ND CIRCUIT UPHOLDS DISMISSAL OF SUBPRIME SUIT AGAINST CREDIT RATING AGENCIES

In re Lehman Bros. Mortgage-Backed Sec. Litig.

Credit rating agencies that allegedly gave undeserved high grades to subprime-mortgage-backed securities are not “underwriters” liable for investor losses under federal securities laws, the 2nd U.S. Circuit Court of Appeals has ruled.
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