S&P Seeks Dismissal Of DOJ Suit Over Inflated MBS Ratings

Law360, Washington (April 22, 2013, 7:48 PM EDT) -- Standard & Poor's Financial Services LLC blasted the U.S. Department of Justice's suit over its flawed mortgage-backed securities ratings before the financial meltdown and urged a California federal judge to can the case Monday, claiming the government has no evidence to bolster its fraud claims.

While the government sued S&P and its parent company, The McGraw-Hill Cos., for giving toxic collateralized debt obligations inappropriately high ratings in 2007 as the U.S. housing market was collapsing, S&P maintained the government's case is based on "puffery" and vague,...
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