Litigation
May 4, 2012
Bond insurers fail to win dismissal in credit rating suit
Bond insurers facing accusations of scheming to degrade the credit ratings of public entities suffered a setback when a San Francisco County Superior Court judge denied their motion to strike.
Daily Journal Staff Writer
SAN FRANCISCO - Bond insurers facing accusations of scheming to degrade the credit ratings of public entities suffered a setback when a San Francisco County Superior Court judge denied their motion to strike.
The companies, which include AMBAC Assurance Corp. and MBIA Insurance Corp., are being sued for allegedly joining forces with rating agencies to use a dual credit rating system that unfairly fav...
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