Moody's wins dismissal of suit challenging ratings independence. Reuters says In a decision made public on Friday, Moody's and its CEO Raymond McDaniel have won the dismissal of a lawsuit accusing the parent of Moody's Investors Service of defrauding shareholders by making false statements about the independence and objectivity of its credit ratings, says Reuters. The decision by U.S. District Judge George Daniels in Manhattan said the shareholders bringing the lawsuit failed to show a sufficient link between the alleged misstatements and declines in Moody's share price, added Reuters. Reference Link
On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: Amec Foster Wheeler (AMFW) initiated with an Underperform at Jefferies... Houghton Mifflin (HMHC) initiated with an Outperform at Wells Fargo... Moody's (MCO) initiated with a Buy at Argus... SPX FLOW (FLOW) initiated with a Buy at Stifel... Subsea 7 (SUBCY) initiated with an Underperform at Jefferies... Sysorex Global (SYRX) initiated with a Buy at B. Riley... Technip (TKPPY) initiated with a Buy at Jefferies.