Reuters: U.S. Says States' S&P Suits Belong in State Courts



Reuters said the U.S. government, which is pursuing a $5 billion lawsuit accusing Standard & Poor’s of misleading investors by inflating its credit ratings, on asked a federal judge to move similar cases by 15 U.S. states and the District of Columbia back to state courts.

The Department of Justice argued that federal courts do not have jurisdiction because the cases turn on alleged violations of state laws against unfair consumer practices or deceptive business practices, Reuters reported.

To read the full Reuters article click here.

Previously on monitordaily: Reuters: Judge OKs U.S. $5B Fraud Suit Against S&P, July 17, 2013


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

No tags available

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com