S&P Blasts DOJ Over States' RMBS Litigation Strategy

Law360, Los Angeles (April 02, 2013, 7:05 PM ET) -- Standard & Poor's Financial Services LLC alleged Tuesday that the U.S. Department of Justice failed to tell a Connecticut federal judge of its collaboration with 17 state attorneys general in lawsuits accusing the firm of shoddy practices in rating residential mortgage-backed securities and collateralized debt obligations.

In an eight-page filing, S&P accused the DOJ and singled out Andre Birotte, U.S. Attorney for the Central District of California, of submitting a court document that “fails [the] test” of providing a “full and candid description” of their interest...
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