Bear Sterns hedge fund liquidators sue rating agencies

The liquidators of a couple of Bear Stearns hedge funds are suing Moody's Investors Service, Fitch Ratings and Standard & Poor's, saying the credit rating agencies assigned inflated ratings to securities before the financial crisis. The complaint cites communications between employees of the agencies. Moody's, Fitch and S&P released statements saying the case is "without merit."

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