Feds To Depose 9 S&P Employees In $5B Fraud Action

Law360, New York (January 16, 2014, 1:17 PM EST) -- The U.S. government plans to depose as many as nine current and former Standard & Poor's employees in a $5 billion fraud suit alleging the company intentionally gave false ratings to mortgage bonds before the 2008 financial crisis, according to a Wednesday court filing.

The U.S. Department of Justice and S&P said they had scheduled six depositions of current S&P employees between Jan. 30 and Feb. 17. The parties are attempting to schedule three more depositions — of one current S&P employee and two former employees...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.