Sept. 2 (Bloomberg) -- A federal judge rejected a request by Moodyâs Investors Service and Standard & Poorâs to dismiss a lawsuit accusing them of deceiving investors in rating private placement notes. U.S. District Judge Shira Scheindlin in New York dismissed an argument by Moodyâs and Standard & Poorâs that their opinions were protected by free-speech rights. She said the First Amendment of the U.S. Constitution doesnât apply in the case because the companiesâ comments were distributed to a select group of investors and not to the general public. Without ruling on the merits of the case, the judge also said opinions by the ratings companies may be the basis for a lawsuit âif the speaker does not genuinely and reasonably believe it or if it is without basis in fact.â The judge said that there are enough facts alleged against the two companies for the lawsuit to go forward. The lawsuit was filed by Abu Dhabi Commercial Bank and King County, Washington. Scheindlin dismissed all claims against Bank of New York Mellon Corp. Edward Sweeney, spokesman for Standard & Poorâs in New York, declined to immediately comment. http://www.bloomberg.com/apps/news?pid=20601087&sid=ayRA.3NqMsow Free speech rigths ???? ROFLMAO !!!