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DOJ spars with S&P over jurisdiction for ratings litigation

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Standard & Poor's is reportedly trying to move 17 state lawsuits accusing the company of misrepresenting 'mortgage bonds ratings' into federal court.

But the Wall Street Journal says the Justice Department, which sued S&P along with state prosecutors over the firm's bond ratings, is pushing back.

This week, the department asked a federal court in Connecticut to keep the cases at the state level.

 

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