Ratings agencies cleared in Ohio court

An Ohio court has found against plaintiffs in a multi-million-dollar lawsuit against ratings agencies accused of acting fraudulently in their financial predictions. The case, brought by five Ohio state pension funds after they lost nearly $500m (£313m, €359m) based on predictions by Moody’s, Fitch and Standard & Poor’s, was dismissed after the court found no evidence of fraudulent intent or responsibility for negligence on the part of the three agencies.