Pa.'s S&P Ratings Suit Must Wait For MDL Ruling, Judge Says

Law360, New York (April 5, 2013, 11:22 PM EDT) -- A Pennsylvania federal judge on Friday halted the Pennsylvania attorney general’s suit against Standard & Poor’s Financial Services LLC for allegedly inflating ratings on mortgage-backed securities while the Judicial Panel on Multidistrict Litigation considers combining it with 16 similar cases against the ratings agency.

U.S. District Judge Christopher C. Conner granted a stay on the suit, which was brought in February by Pennsylvania Attorney General Kathleen G. Kane, ruling that a stay of roughly two to three months until the JPML makes the decision would allay...
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