7/11/2013

Ratings agencies Standard & Poor's, Moody's Investors Service and Fitch Ratings are facing a lawsuit from the liquidators of two failed Bear Stearns funds alleging that the ratings agencies fraudulently issued inflated ratings for securities owned by the funds. The suit comes a day after a judge allowed the Justice Department to bring its own lawsuit against S&P for allegedly defrauding investors.

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Reuters

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