Reuters: Judge OKs U.S. $5B Fraud Suit Against S&P

Reuters reported that a U.S. federal judge has ruled that the U.S. government may pursue its $5 billion civil fraud lawsuit accusing S&P of misleading investors by inflating credit ratings.

Bloomberg: S&P to Argue ‘Puffery’ Defense

Bloomberg reported that S&P will defend itself in the government’s fraud case against the ratings agency by arguing reasonable investors would not have relied on its “puffery” about credit ratings.

Reuters: S&P Wins Ruling to Transfer Ratings Lawsuits

Reuters reported that S&P and its parent company McGraw Hill Financial won a ruling that moves 15 lawsuits in which they were accused of fraudulently inflating credit ratings to a single federal court.

WSJ: S&P Says Credit-Rating Proposal Could Create Conflicts

The Wall Street Journal reported that S&P’s president Douglas Peterson said a proposal to revise its business model would create new conflicts of interest and disrupt financial markets.

S&P Revises JPMorgan Outlook, Affirms Credit Rating

S&P said it revised the ratings outlook on JPMorgan Chase and its banking subsidiaries to stable from negative. The rating agency also said it affirmed JPM’s issuer credit ratings.

May 2003

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