Commercial Financial Services, Inc. v. Arthur Andersen LLP

Opinion by

JERRY L. GOODMAN, Judge.

¶ 1 Arthur Andersen, LLP, appeals the trial court’s grant of motions to dismiss filed by third-party defendants Standard & Poor’s Ratings Services, Moody’s Investors Service, Inc., and Fitch, Inc., a successor to Fitch Investors Services, L.P. and Duff & Phelps Credit Rating Company (collectively, the Rating Agencies). Andersen, an accounting firm, has been sued by Commercial Financial Services, Inc., (CFS) for professional malpractice. Andersen asserted a right of contribution against the Rating Agencies, which gave favorable ratings to securities sold by…