U.S. Government’s Claim Holds Up in Court

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On July 9, 2013, U.S. District Judge David Carter ruled that the United States Government may proceed with its lawsuit against Standard and Poor (S&P). The court determined that the complained contained sufficient allegations to support the fraud claims. The U.S. Government filed the complaint in February claiming that S&P intentionally misrepresented credit ratings. The United States is seeking damages of five billion dollars. Not only is the U.S. Government launched a lawsuit against S&P, so have fourteen other states and the District of Columbia. S&P has continually maintained that the claims made by the U.S. Government are without merit.

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