Thursday, May 12, 2011

Full Text Of Federal Appeals Court Decision Affirming Dismissal Of Lawsuit Against Credit Rating Agencies Of Mortgage Securities

The United States Court of Appeals for the Second Circuit affirmed the dismissal of a lawsuit against credit rating agencies for misleading and inaccurate credit ratings of mortgage securities.

Specifically, the appeals court affirmed the decision of the lower court, The United States District Court for the Southern District of New York, "dismissing plaintiffs’ complaints seeking to hold the rating agency defendants liable as underwriters or control persons for misstatements or omissions in securities offering documents in violation of §§ 11 and 15 of the Securities Act of 1933."

The full text of the decision is available on the court's website here, on Scribd here, and embedded below.

In Re Lehman Brothers Mortgage-backed Securities Litigation

My previous blog on this lawsuit decision is available here.

No comments:

Post a Comment