German bank IKB Deutsche Industriebank AG was a little too late to the party.
In a ruling Tuesday, Manhattan U.S. District Judge Jed Rakoff held that a fraud lawsuit brought by IKB against Standard & Poor’s Rating Services was time-barred. IKB had waited until May 12 of this year to sue S&P over the top ratings it gave to notes issued by a structured investment vehicle called Rhinebridge back in 2007. Three months later, those notes were downgraded to junk status.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
