Moody's wins dismissal of suit challenging ratings independence. Reuters says

In a decision made public on Friday, Moody's and its CEO Raymond McDaniel have won the dismissal of a lawsuit accusing the parent of Moody's Investors Service of defrauding shareholders by making false statements about the independence and objectivity of its credit ratings, says Reuters. The decision by U.S. District Judge George Daniels in Manhattan said the shareholders bringing the lawsuit failed to show a sufficient link between the alleged misstatements and declines in Moody's share price, added Reuters.