The Traderszone Network

Published in TZ Latest News 14 May, 2014 by The TZ Newswire Staff

Geithner must give S&P documents in U.S. fraud lawsuit: filing

The U.S. Department of Justice brought a civil fraud lawsuit against S&P in 2013, accusing it of inflating ratings to win more fees from issuers, and then failing to downgrade debt backed by deteriorating mortgage-backed securities fast enough. S&P, a unit of McGraw Hill Financial Inc (MHFI.N), has claimed the lawsuit was filed in retaliation for the downgrade, and should be dismissed. Its main rating agency rivals, Moody’s Investors Service and Fitch Ratings, were not sued. U.S.

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