In Re National Century Financial Enterprises, Inc.

OPINION AND ORDER ON MOTIONS TO DISMISS FILED BY RATING AGENCIES MOODY’S AND FITCH

JAMES L. GRAHAM, District Judge.

This matter is before the Court on motions to dismiss filed in this multidistrict litigation by credit rating agencies Moody’s Investors Service, Inc. and Fitch, Inc. Plaintiff Lloyds TSB Bank PLC has sued Moody’s for the alleged role that Moody’s credit ratings played in inducing Lloyds to invest millions of dollars in notes issued by National Century Financial Enterprises, Inc. Plaintiff New York Pension Funds has sued Fitch on the same grounds. Plaintiffs allege that Moody’s…