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...
To view the full article, register now.