Judge tentatively permits fraud lawsuit against S&P to proceed

07/10/2013 | Reuters

In a preliminary ruling ahead of a final decision expected by Monday, a federal judge has permitted the Justice Department to proceed with its lawsuit against Standard & Poor's. The lawsuit alleges that the rating agency defrauded customers by inflating credit ratings. The DOJ is arguing that S&P lied to customers when claiming its ratings were objective and not affected by conflicts of interest. S&P said that its claims were "puffery" and hence could not constitute fraud.

View Full Article in:

Reuters

Published in Brief: