California Court of Appeal
CalPERS v. Moody's Investors Service, Inc., A134912
In an action challenging the veracity of defendant-rating agencies' assignment of highly favorable credit ratings to three structured investment vehicles that ultimately collapsed, causing billions of dollars in losses to plaintiff-public pension fund and other investors, the trial court's order denying the special motion to strike of defendants pursuant to California's anti-SLAPP statute is affirmed, where the trial court correctly concluded that: 1) plaintiff's complaint was based upon conduct by the defendants falling within the scope of the anti-SLAPP statute; but 2) dismissal at this stage would be improper because plaintiff successfully demonstrated a probability of prevailing on the merits of its sole claim of negligent misrepresentation.
Appellate Information
- Decided 05/27/2014
- Published 05/27/2014
Judges
- JENKINS
Court
- California Court of Appeal