KING COUNTY, WASH. v. IKB DEUTSCHE INDUSTRIEBANK

Nos. 09 Civ. 8387(SAS), 08 Civ. 7508(SAS).

863 F.Supp.2d 317 (2012)

KING COUNTY, WASHINGTON, and Iowa Student Loan Liquidity Corporation, Plaintiffs, v. IKB DEUTSCHE INDUSTRIEBANK AG, et al., Defendants. Abu Dhabi Commercial Bank, et al., Plaintiffs, v. Morgan Stanley & Co. Inc, et al., Defendants.

United States District Court, S.D. New York.

June 7, 2012.


Attorney(s) appearing for the Case

Daniel S. Drosman, Esq. , Jessica T. Shinnefield, Esq. , Darryl J. Alvarado, Esq., Anne L. Box, Esq. , Patrick J. Coughlin, Esq. , Nathan R. Lindeh, Esq. , David C. Walton, Esq. , X Jay Alvarez, Esq. , Christina A. Royce, Esq. , Robbins Geller Rudman & Dowd LLP, San Diego, CA, Luke O. Brooks, Esq. , Coughlin Stoia Geller Rudman & Robbins LLP, Jason C. Davis, Esq. , San Francisco, CA, Samuel H. Rudman, Esq. , Jarrett S. Charo, Esq. , David A. Rosenfeld, Esq. , Robert M. Rothman, Esq. , Robbins Geller Rudman & Dowd LLP, Melville, NY, Marc Ian Gross, Esq. , Pomerantz Haudek Block Grossman & Gross LLP, New York, NY, for Plaintiffs Abu Dhabi Commercial Bank, SEI Investments Company, Bank Hapoahm B.M, Bank Sinopac, Commerzbank AG, Commonwealth of Pennsylvania Pubhc School Employees' Retirement System, Deutsche Postbank AG, Global Investment Services Limited, Gulf International Bank B.S.C., KBL European Private Bankers S.A., National Agricultural Cooperative Federation, SEI Investment Strategies, LLC, SFT Collective Investment Fund, State Board of Administration of Florida, The Bank of N.T. Butterfield & Son Limited, King County, Washington and Iowa Student Loan Liquidity Corporation.

James P. Rouhandeh, Esq. , Antonio Jorge Perez-Marques, Esq. , Jessica L. Freese, Esq. , William R. Miller, Jr., Esq. , Christopher J. Roche, Esq. , Andrew D. Schlichter, Esq. , Davis Polk & Wardwell L.L.P., New York, NY, for Defendants Morgan Stanley & Co., Inc. and Morgan Stanley & Co. International Limited.

James J. Coster, Esq. , Joshua M. Rubins, Esq. , Justin E. Klein, Esq. , James J. Regan, Esq. , Aaron M. Zeisler, Esq. , Mario Aieta, Esq. , Dai Wai Chin Feman, Esq. , Satterlee Stephens Burke & Burke LLP, New York, NY, for Defendants Moody's Investors Service Limited and Moody's Investors Service, Inc.

Dean I. Ringel, Esq. , Andrea R. Butler, Esq. , Floyd Abrams, Esq. , Jason M. Hall, Esq. , Brian T. Markley, Esq. , Tammy L. Roy, Esq. , Adam N. Zurofsky, Esq. , David Owen, Esq. , Cahill Gordon & Reindel LLP, New York, NY, for Defendant The McGraw Hill Companies, Inc. d/b/a Standard & Poor's Rating Services.

Andrew J. Ehrlich, Esq. , Martin Flumenbaum, Esq. , Roberta A. Kaplan, Esq. , Mark S. Silver, Esq. , Tobias J. Stem, Esq. , Paul, Weiss, Rifkind, Wharton & Ganison LLP, New York, NY, for Defendant Fitch, Inc.


OPINION AND ORDER ON RECONSIDERATION

SHIRA A. SCHEINDLIN, District Judge:

I. INTRODUCTION

Institutional investors King County, Washington ("King County") and Iowa Student Loan Liquidity Corporation seek to recover losses stemming from the October 2007 collapse of Rhinebridge, a structured investment vehicle ("SIV"). These plaintiffs assert New York common law claims against eight corporate entities: Deutsche Industriebank AG and IKB Credit...

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