KING COUNTY, WASH. v. IKB DEUTSCHE INDUSTRIEBANK

No. 09 Civ. 8387(SAS).

916 F.Supp.2d 442 (2013)

KING COUNTY, WASHINGTON, and Iowa Student Loan Liquidity Corporation, Plaintiffs, v. IKB DEUTSCHE INDUSTRIEBANK AG, IKB Credit Asset Management, GmbH, Moody's Investors Service, Inc., Moody's Investors Service Limited, The McGraw Hill Companies, Inc. (d/b/a Standard & Poor's Ratings Services), Fitch, Inc., Morgan Stanley & Co. Incorporated, and Morgan Stanley & Co. International Limited, Defendants.

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

January 3, 2013.


Attorney(s) appearing for the Case

Daniel S. Drosman, Esq. , Jessica T. Shinnefield, Esq. , Darryl J. Alvarado, Esq. , Anne L. Box, Esq. , James A. Caputo, Esq. , Patrick J. Coughlin, Esq. , Nathan R. Lindell, 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. , Jason C. Davis, Esq. , Robbins Geller Rudman & Dowd LLP, 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, for Plaintiffs King County, Washington and Iowa Student Loan Liquidity Corporation.

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

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. , Cahill Gordon & Reindel LLP, New York, NY, for Defendant The McGraw Hill Companies, Inc. d/b/a Standard & Poor's Rating Services.

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

Andrew J. Ehrlich, Esq. , Martin Flumenbaum, Esq. , Donna M. Ioffredo, Esq. , Roberta A. Kaplan, Esq. , Mark S. Silver, Esq. , Tobias J. Stern, Esq. , Julia Tarver-Mason Wood, Esq. , Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY, for Defendant Fitch, Inc.


OPINION AND ORDER

SHIRA A. SCHEINDLIN, District Judge.

I. INTRODUCTION

Institutional investors King County, Washington ("King County") and Iowa Student Loan Liquidity Corporation ("ISL") bring this action to recover losses stemming from the October, 2007 collapse of Rhinebridge, a structured investment vehicle ("SIV"). Plaintiffs assert claims of common law fraud, negligent misrepresentation, and aiding and abetting fraud against: The McGraw...

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