UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
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UNITED STATES OF AMERICA : Criminal No.
v. : Filed
MOODY'S INVESTORS SERVICE, INC., : Violation: 18 U.S.C. ss. 1505
Defendant. :
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INFORMATION
The United States of America, acting through it attorneys, charges:
1. MOODY'S INVESTORS SERVICE, INC. ("MOODY'S"), a corporation organized
and existing under the laws of the State of Delaware, is made a defendant
herein.
I.
DESCRIPTION OF THE OFFENSE
2. On or about March 6, 1996, the Antitrust Division of the United
States Department of Justice issued a civil investigative demand ("CID"),
pursuant to the Antitrust Civil Process Act, 15 U.S.C. ss. 1311-1314, to the
defendant, MOODY'S, in connection with an investigation involving debt
securities ratings services. The Antitrust Division caused the CID to be served
on Moody's, by both fax and mail, on or about March 6, 1996, in the Southern
District of New York.
3. On or about March 7, 1996, in the Southern District of New York, a
now former employee of MOODY'S, with knowledge and intent to avoid, evade,
prevent, or obstruct compliance, in whole or in part, with a CID duly and
properly made under the Antitrust Civil Process Act, destroyed documentary
material that was the subject of such demand.
4. One or more MOODY'S executives, in addition to the one who destroyed
documents, knew of, or should have known of, the destruction of documents called
for by thc CID but took no steps to notify the Antitrust Division of the
destruction before MOODY'S certified that it had produced all documents called
for by the CID.
II.
BACKGROUND
5. During the period covered by this information, MOODY'S was a
corporation organized and existing under the laws of the State of Delaware, with
its principal place of business in New York, New York, and was a wholly-owned
subsidiary of Dun & Bradstreet Corporation.
6. During the period covered by this information, MOODY'S was engaged
in the business of rating the creditworthiness of debt securities issued by both
private and governmental entities in the United States and abroad.
III.
STATUTORY ALLEGATIONS
7. On or about March 7, 1996, in the Southern District of New York,
MOODY'S, through a now former employee, with intent to avoid, evade, prevent,
and obstruct compliance, in whole or in part, with a CID duly and properly made
under the Antitrust Civil Process Act, unlawfully, willfully, and knowingly
withheld, concealed,
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and destroyed and attempted to withhold, conceal, and destroy documentary
material which was the subject of such demand.
8. The aforesaid offense was carried out within the five years
preceding the filing of this information, excluding the period during which the
running of the statute of limitations was suspended pursuant to agreement with
the defendant.
IN VIOLATION OF TITLE 18, UNITED STATES CODE, SECTION 1505.
Dated:
/s/ John M. Nannes /s/ Ralph T. Giordano
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JOHN M. NANNES RALPH T. GIORDANO
Acting Assistant Attorney General Chief, New York Office
/s/ James M. Griffin /s/ Stephen J. McCahey
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JAMES M. GRIFFIN STEPHEN J. McCAHEY
Deputy Assistant Attorney General
/s/ Scott D. Hammond /s/ Jacqueline Distelman
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SCOTT D. HAMMOND JACQUELINE DISTELMAN
Director of Criminal Enforcement
Antitrust Division
U.S. Department of Justice /s/ Kevin B. Hart
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KEVIN B. HART
/s/ Melvin Lublinski
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/s/ Mary Jo White MELVIN LUBLINSKI
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MARY JO WHITE Attorneys
United States Attorney Antitrust Division
Southern District of New York U.S. Department of Justice
26 Federal Plaza, Room 3630
New York, New York 10278
(212) 262-0656
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