S&P Ratings Suits Merged Into MDL In NY

Law360, Chicago (June 6, 2013, 5:19 PM EDT) -- More than a dozen lawsuits accusing Standard & Poor’s Financial Services LLC of fraud in connection with its ratings of mortgage-backed securities before the financial meltdown will proceed as one case in New York federal court, a panel of judges ruled Thursday.

In a court order, the U.S. Judicial Panel on Multidistrict Litigation agreed with S&P and its parent, McGraw-Hill Cos., that the cases should be consolidated and transferred to New York, a blow to the 14 states — and the District of Columbia — that...
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