S&P can't convince judge to split up $5B fraud case

|About: S&P Global Inc. (SPGI)|By:, SA News Editor

A federal judge rejects a request by Standard & Poor's (MHFI) to split up the U.S. government's $5B lawsuit accusing it of lying about its credit ratings, but the judge gives S&P permission to obtain evidence the government may have sued in retaliation for the agency's decision to lower the U.S. credit rating in 2011.

S&P has said former Treasury Secretary Geithner angrily told McGraw Hill Chairman Terry McGraw in an Aug. 8, 2011 phone call, three days after the downgrade, that he was "accountable" for the company's actions and that S&P's conduct would be "looked at very carefully."