DOJ wants S&P suit to proceed

05/21/2013 | Wall Street Journal, The

Responding to a Standard & Poor's request to have a judge throw out the Justice Department's lawsuit regarding ratings during the financial crisis, the department has requested that the suit be allowed to move forward. The central issue contested by this round of legal filings is whether S&P's assertions of the independence and objectivity of their ratings were meant to be taken at face value by investors or simply "puffery," and thus whether they could be evaluated as fraudulent.

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Wall Street Journal, The

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