S&P Says 'Unwieldy' DOJ Fraud Case Requires 8-Month Trial

Law360, New York (December 3, 2013, 1:19 PM EST) -- The U.S. government’s civil prosecution of Standard & Poor’s over its alleged role in the financial crisis could require at least two years of discovery and eight months of trial unless the case is narrowed significantly, the credit rating agency told a New York federal court Monday.

S&P said such a trial would be “unwieldy and unmanageable” and asked the court to limit the number of securities at issue in the case. The U.S. Department of Justice has proposed to pursue claims over 56 residential mortgage-backed...
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