Standard & Poor's, Moody's Corp. and Fitch won dismissal of a lawsuit alleging that their ratings of nonprime MBS were faulty and caused five Ohio public employee pension funds to buy into these money-losing investments.

Former Ohio Attorney General Richard Cordray filed the suit in 2009, accusing the three companies of making "spectacularly misleading evaluations" of the securities because of what they were paid by the issuers.

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