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RETIREMENT PLAN FOR GEN. EMPLS. OF CITY OF N. MIAMI BEACH v. McGRAW-HILL COS., INC.

12438, 650349/13

120 A.D.3d 1052 (2014)

992 N.Y.S.2d 220

2014 NY Slip Op 06154

RETIREMENT PLAN FOR GENERAL EMPLOYEES OF THE CITY OF NORTH MIAMI BEACH et al., Appellants, v. THE McGRAW-HILL COMPANIES, INC., Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided September 11, 2014.

Petitioners, Retirement Plan for General Employees of the City of North Miami Beach (North Miami Beach) and Robin Stein, are shareholders of respondent the McGraw-Hill Companies, Inc. (McGraw-Hill). Nonparty Standard & Poor's Financial Services LLC (S&P) is a major credit rating agency wholly owned by McGraw-Hill. S&P issues ratings on securities and other investment products related to those products' default risk; the ratings play a critical role in the economy...

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