Litigation
Jul. 19, 2013
Judge denies Standard & Poor's bid to dismiss $5 billion civil suit
A federal judge late Tuesday shot down Standard & Poor's initial attempt to deflect the government's $5 billion civil lawsuit over allegedly fraudulent ratings practices in advance of the 2008 financial crisis.
Daily Journal Staff Writer
A federal judge late Tuesday shot down Standard & Poor's initial attempt to deflect the government's $5 billion civil lawsuit over allegedly fraudulent ratings practices in advance of the 2008 financial crisis.
In an 18-page order denying S&P's motion to dismiss the case, U.S. District Judge David O. Carter wrote that the ratings giant had erred in comparing its proclamations of in...
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