Connecticut sues rating agencies

Connecticut’s Attorney General Richard Blumenthal has followed through on a promise made in November 2009 to bring lawsuits against the rating agencies, accusing Moody’s and Standard & Poor’s of breaching the state’s Unfair Trade Practices Act.

  • 12 Mar 2010

The suit, however, falls short of Blumenthal’s original claim that he would sue the agencies on antitrust and negligence grounds. Instead, the suits allege that the agencies falsely presented themselves as "objective, independent and not influenced by either [the agencies’] or their clients financial interests".

The suits cite internal ...

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