S&P Says 'Sweeping' DOJ Fraud Trial Must Be Split In Two

Law360, New York (March 26, 2014, 12:46 PM EDT) -- Standard & Poor's Financial Services LLC asked a California federal judge Tuesday to split into two a suit accusing the credit rating firm of intentionally giving inaccurate ratings to collateralized debt obligations, saying it was too “sweeping” to be tried all at once.

In a 15-page motion, the credit rating agency argued that the amount of evidence it would need to gather to defend itself against the U.S. Department of Justice's allegations that it contributed to the 2008 financial crisis by intentionally giving false ratings to...
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