January 16, 2014
The U.S. government plans to depose as many as nine current and former Standard & Poor's employees in a $5 billion fraud suit alleging the company intentionally gave false ratings to mortgage bonds before the 2008 financial crisis, according to a Wednesday court filing.
July 17, 2013
The U.S. government's winning streak under a controversial fraud law continued Tuesday as a California federal court blessed its $5 billion suit against Standard & Poor's over mortgage bond ratings before the financial crisis, part of a trend that has defense counsel spooked.
July 17, 2013
The U.S. government won permission late Tuesday to pursue a $5 billion fraud suit over Standard & Poor's Financial Services LLC's alleged role in the financial crisis, as a California federal judge sharply rejected the firm's argument that its statements about objective mortgage-backed securities ratings were "mere puffery."
July 08, 2013
A California federal judge Monday tentatively denied Standard & Poor's Financial Services LLC's attempt to toss the U.S. Department of Justice's $5 billion lawsuit accusing it of knowingly issuing ratings that didn't accurately reflect mortgage-backed securities' credit risk, saying the government adequately pled fraud claims.
June 04, 2013
Standard & Poor's Financial Services LLC on Monday took another swing at a U.S. Department of Justice suit over allegedly flawed mortgage-backed securities ratings before the financial meltdown, saying the government has failed to connect the dots on its fraud claims.
May 21, 2013
The U.S. Department of Justice on Monday hit back at Standard & Poor's Financial Services LLC's bid to dismiss a suit over allegedly flawed residential mortgage-backed securities ratings issued before the financial crisis, telling a California federal judge it had properly alleged fraud by the ratings firm.
May 03, 2013
The U.S. Department of Justice's Civil Division doesn't often force companies to admit wrongdoing, but its hard-line settlement negotiations with Standard & Poor's in sprawling financial crisis litigation could prove to be a turning point, attorneys say.
April 22, 2013
Standard & Poor's Financial Services LLC blasted the U.S. Department of Justice's suit over its flawed mortgage-backed securities ratings before the financial meltdown and urged a California federal judge to can the case Monday, claiming the government has no evidence to bolster its fraud claims.
February 12, 2013
Standard & Poor's Financial Services LLC on Tuesday again criticized a U.S. Department of Justice suit over its flawed mortgage-backed securities ratings before the financial meltdown, but the firm's top lawyer said a settlement with federal and state officials was still possible.