KING COUNTY, WASH. v. IKB DEUTSCHE INDUSTRIEBANK

Nos. 09 Civ. 8387(SAS), No. 09 Civ. 8822(SAS).

712 F.Supp.2d 104 (2010)

KING COUNTY, WASHINGTON, Individually and on Behalf of All Others Similarly Situated, Plaintiff, v. IKB DEUTSCHE INDUSTRIEBANK AG, et al., Defendants. Iowa Student Loan Liquidity Corporation, Individually and on Behalf of All Others Similarly Situated, Plaintiff, v. IKB Deutsche Industriebank AG, et al., Defendants.

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

May 4, 2010.


Attorney(s) appearing for the Case

Anne L. Box, Esq., Daniel S. Drosman, Esq., David C. Walton, Esq., Jessica T. Shinnefield, Luke O. Brooks, Esq., Nathan R. Lindell, Esq., Patrick J. Coughlin, Esq., Christina A. Royce, Esq., Darryl J. Alvarado, Esq., Robbins Geller Rudman & Dowd LLP, San Diego, CA, Samuel H. Rudman, Esq., Jarrett S. Charo, Esq., David A. Rosenfeld, Esq., Esq. Robert M. Rothman, Esq., Robbins Geller Rudman & Dowd LLP, Melville, NY, Jason C. Davis, Esq., Robbins Geller Rudman & Dowd LLP, San Francisco, CA, for Plaintiffs King County, Washington and Iowa Student Loan Liquidity Corporation.

John D. McFerrin-Clancy, Esq., Lowenstein Sandler PC, New York, NY, Thomas E. Redburn, Jr., Esq., Lowenstein, Sandler PC, Roseland, NJ, for Defendants IKB Deutsche Industriebank AG and IKB Credit Asset Management, GmbH.

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

Adam N. Zurofsky, Esq., Andrea R. Butler, Esq., Brian T Markley, Esq., Dean I. Ringel, Esq., Floyd Abrams, Esq., Jason M. Hall, 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., Tobias J. Stern, Esq., Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY, for Defendant Fitch, Inc.

Thomas S. Wiswall, Esq., Phillips Lytle LLP, Rochester, NY, for Defendant Stefan Ortseifen.

None for Defendant Winfried Reinke.


OPINION AND ORDER

SHIRA A. SCHEINDLIN, District Judge.

I. INTRODUCTION

Two institutional investors, King County, Washington ("King County") and Iowa Student Loan Liquidity Corporation ("ISL," and together with King County, "plaintiffs") bring these putative class actions for common law fraud in connection with the collapse of Rhinebridge PLC and Rhinebridge LLC (together, "Rhinebridge"), a structured investment vehicle. Plaintiffs sue six...

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