Litigation
Jan. 14, 2012
CalPERS suit against rating agencies to proceed
A state court judge will allow California's largest public pension fund to move forward with a lawsuit accusing rating agencies of misrepresenting the risk behind its investments, leading to as much as $1 billion in losses.
Daily Journal Staff Writer
SAN FRANCISCO - A state court judge will allow California's largest public pension fund to move forward with a lawsuit accusing rating agencies of misrepresenting the risk behind its investments, leading to as much as $1 billion in losses.
In San Francisco County Superior Court Judge Richard A. Kramer's ruling Wednesday, he rejected a motion by rating agencies Moody's Investors Service I...
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