Ohio Tells 6th Circ. To Reopen MBS Ratings Dispute

Law360, New York (April 17, 2012, 9:03 PM EDT) -- Ohio urged the Sixth Circuit on Monday to reverse a ruling that ratings agencies including Standard & Poor’s Financial Services LLC weren't liable for “predictive opinions" given to five pension funds that invested in mortgage-backed securities, saying the funds properly argued the agencies had inflated ratings.

Ohio Attorney General Mike DeWine argues in a brief that five Ohio pension funds properly pleaded their Ohio Securities Act claims alleging the ratings agencies were liable for over $457 million in losses during the mortgage crisis because of high...
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