Judge allows California to proceed in case against S&P
S&P accused of inflating ratings on RMBS
A Reuters news article says California Attorney General Kamala Harris is free to move forward in a case in which her office accuses Standard & Poor's of misleading investors and inflating ratings for residential mortgage-back securities. Reuters has more on the latest development:
The ruling is the latest legal reversal for S&P, which is facing multiple lawsuits filed by the U.S. government and several states over its role in assigning credit ratings to various mortgage securities that tanked during the financial crisis five years ago.