Standard & Poor’s is trying to
show it was unfairly singled out in a $5 billion fraud lawsuit
18 months after it downgraded U.S. sovereign debt. Getting the
government to provide supporting evidence will prove difficult.
McGraw Hill Financial Inc. (MHFI) and its S&P unit are seeking information from the Justice Department about the decision to target the company in the first federal case against a ratings firm for grades related to the credit crisis. S&P also wants a look at the government’s investigative files on other raters as part of a defense strategy to show it was unfairly sued.
S&P in the coming months will seek to defeat government attempts to shield internal discussions and evidence as the case heads for a first round of procedural deadlines that will determine what evidence eventually goes before the jury.
http://www.bloomberg.com/news/2013-08-19/s-p-to-fight-for-evidence-u-s-suit-was-political-payback.html
McGraw Hill Financial Inc. (MHFI) and its S&P unit are seeking information from the Justice Department about the decision to target the company in the first federal case against a ratings firm for grades related to the credit crisis. S&P also wants a look at the government’s investigative files on other raters as part of a defense strategy to show it was unfairly sued.
S&P in the coming months will seek to defeat government attempts to shield internal discussions and evidence as the case heads for a first round of procedural deadlines that will determine what evidence eventually goes before the jury.
http://www.bloomberg.com/news/2013-08-19/s-p-to-fight-for-evidence-u-s-suit-was-political-payback.html
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