S&P Seeks Toss Of DOJ Suit Over Flawed MBS Ratings

Law360, Chicago (June 4, 2013, 7:48 PM EDT) -- Standard & Poor's Financial Services LLC on Monday took another swing at a U.S. Department of Justice suit over allegedly flawed mortgage-backed securities ratings before the financial meltdown, saying the government has failed to connect the dots on its fraud claims.

In a response filed in California federal court supporting its motion to dismiss the suit, the credit ratings agency discounted the government's "feigned surprise" to S&P's argument that "aspirational statements" in its codes of conduct its ratings could not support a fraud claim.

S&P said...
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