Federal Mortgage Lender Out-of BOSTON v. Irritable Corporation 65 That is a common rules con instance. Plaintiff Federal Mortgage Lender out of Boston (the newest FHLBB) alleges you to definitely Defendants Moody’s Agency and you can Moody’s Buyers Service, Inc. (along, Moody’s) the amount of time swindle because of the purposefully understating the chance and you can overstating the fresh new creditworthiness of particular Private-label Home loan-Backed Ties (PLMBS) ended up selling towards FHLBB. Moody’s moves in order to write off significantly less than CPLR 213(8), 3211(a)(1), and you may 3211(a)(7). With the grounds described below, the latest action is actually declined according to FHLBB’s First cause of Action (Fraud) and you can supplied without opposition with regards to the FHLBB’s Next Trigger out-of Step (Abuses away from Nyc Gen. Coach. L. 349). Your situation is well traveled, to put it mildly. Earliest, the fresh FHLBB filed an action facing Moody’s or other defendants into the Massachusetts Superior Judge into . (NYSCEF 1 on nine) (Moody’s We).