Federal Court Allows Fraud Claims Against Moody’s and S&P To Proceed

Basil Katz, Reuters A Manhattan federal judge on Friday refused to dismiss a lawsuit seeking to hold credit rating agencies responsible for misleading investors about the safety of a risky debt vehicle that they rated. U.S. District Judge Shira Scheindlin denied a bid by Moody’s Investors Service and Standard & Poor’s to dismiss the claims, […]

Claims Emerge That Show Ratings Agencies Lied On MBS

Alison Frankel, Thomson Reuters If you’re reasonably literate about the financial crisis, you probably know that the credit rating agencies have slipped through the carnage like a cat walking away from a knocked-over vase. With their opinions on publicly offered mortgage-backed securities protected by the First Amendment, Standard & Poor’s and Moody’s have won dismissals […]

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