Legal Opinion
LaSalle National Bank v. Duff & Phelps Credit Rating Co.
District Court, S.D. New York
Decided November 26, 1996No. 93 Civ. 4692 (WK) (AJP)PublishedCited by 41 opinions
1Opinion of the Court
MEMORANDUM AND ORDER
WHITMAN KNAPP, Senior District Judge.
Before us is an action brought by twenty-six institutional investors (plaintiffs), who purchased approximately $200 million of bonds offered by subsidiaries of Towers Financial Corporation in connection with its Ponzi scheme, against Duff & Phelps Credit Rating Co. (“defendant”), and Shawmut Bank Connecticut N.A. Defendant Duff & Phelps moved to dismiss plaintiffs’ complaint. On June 19, 1996, Magistrate Judge Andrew J. Peck issued a Report and Recommendation recommending that we grant defendant’s motion to dismiss plaintiffs’ claim for…
2Cases cited86 opinions
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3Cited by41 opinions
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