Reuters: Regulatory News: Judge tentatively lets U.S. pursue lawsuit vs S&P

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Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Judge tentatively lets U.S. pursue lawsuit vs S&P Jul 9th 2013, 12:48 July 8 | Tue Jul 9, 2013 8:48am EDT July 8 (Reuters) - A federal judge has made a tentative ruling that would let the U.S. government pursue its $5 billion civil lawsuit accusing Standard & Poor's of defrauding investors by inflating credit ratings prior to the financial crisis. In a written ruling made public late on Monday, U.S. District Judge David Carter in Santa Ana, California said the government had sufficiently alleged that S&P's ratings were objectively and subjectively false, and that the rating agency intended to deceive investors. S&P is a unit of McGraw Hill Financial Inc. It has maintained that the lawsuit lacks merit. Carter issued the ruling after a court hearing. According to the Wall Street Journal, the judge said he would make a final ruling by July 15.

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