S&P, Moody’s, Fitch Win Dismissal of Suit by Fund Liquidators

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McGraw Hill Financial Inc.’s Standard & Poor’s unit, Moody’s Corp. and Fitch Group Inc. won dismissal of a lawsuit by liquidators of two Bear Stearns hedge funds.

A New York state judge threw out fraud claims against the ratings services based on fund losses. The liquidators accused the companies of issuing ratings they knew were bogus.

The case is Varga v. McGraw Hill Financial Inc., 652410/2013, New York state Supreme Court, New York County (Manhattan)

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