Cahill Litigation Team Wins Dismissal of German Bank’s Suit Against McGraw Hill
A Cahill litigation team prevailed on behalf of McGraw Hill Financial, Inc. and Standard & Poor’s Financial Services LLC in litigation arising from the 2007 collapse of a structured investment vehicle called Rhinebridge.
Plaintiff, the German bank IKB Deutsche Industriebank AG, brought suit in May 2014, asserting claims of fraud, negligent misrepresentation, and civil conspiracy against the defendants. IKB sought to recover for alleged losses suffered on IKB’s purchase of $574 million of Rhinebridge notes. On August 29, 2014, Judge Rakoff of the U.S. District Court for the Southern District of New York granted Defendants' motions to dismiss all claims against both defendants, finding that IKB's claims were “time barred.”