Bold DOJ Goes All-In With Suit Over S&P Ratings

Law360, New York (February 4, 2013, 9:09 PM EST) -- After years of silence and inaction, the U.S. Department of Justice is preparing to sue Standard & Poor’s Financial Services LLC over its alleged role in the financial crisis, suggesting the government is supremely confident it can finally score a high-profile victory against a credit rating firm.

The DOJ is planning to file a civil suit alleging S&P gave inaccurately high ratings to collateralized debt obligations that later collapsed when mortgages tied to the complex securities soured. The suit would be the first by federal officials to...
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