Rating agencies hit with fresh Blumenthal complaint
The flurry of litigation against the rating agencies following the sub-prime meltdown continues unabated.
The state of Connecticut has hit Moody's and Standard & Poor's (S&P) with a new lawsuit over ratings they issued on sub-prime investments, in what attorney general Richard Blumenthal is calling the first complaint of its kind.
The rating agencies are facing a flood of litigation over giving gilt-edged ratings to what turned out to be high-risk instruments. Blumenthal claims this litigation - sovereign enforcement actions...
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