- McGraw Hill (MHFI) unit S&P and Moody's (MCO) must face a lawsuit from Calpers over ratings they gave on investments that led to losses of $800M.
- An appeals court affirmed a lower-court ruling from 2012 to reject the firms' request to dismiss the case.
- Calpers sued the agencies in 2009 after the collapse of three investment vehicles that were supported by sub-prime mortgages. The pension system had invested $1.3B.
- S&P is the subject of similar lawsuits from the Justice Department and individual states, including California.
Appeals court rejects S&P, Moody's request to dismiss ratings lawsuit
From other sites
at 4-traders.com (Mar 23, 2015)
at Benzinga.com (Feb 12, 2015)
at Investor's Business Daily (Feb 3, 2015)
at Investor's Business Daily (Jan 28, 2015)
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