On July 16, Judge David O. Carter of the Federal District Court for the Central District of California denied Standard & Poor’s Financial Service LLC’s (S&P) motion to dismiss the U.S. government’s $5 billion fraud suit...more
In This Issue: *RMBS Litigation - Assured Wins $90 Million in Damages in RMBS Breach of Contract Trial - DOJ Brings Civil Fraud Action Against S&P - S&P Seeks Declaration That Credit Ratings Are Immune...more
On February 4, the Department of Justice filed a complaint in the Central District of California against two Standard & Poor’s entities in connection with credit ratings S&P provided for certain RMBS and CDOs....more