McGraw Hill Financial Inc.’s Standard & Poor’s said it would be unfair to let the U.S. Justice Department put more than 150 selected securities before a jury to argue the firm’s ratings were the result of fraud.
S&P’s lawyer, John Keker, said at a hearing yesterday in federal court in Santa Ana, California, that if the case goes to trial, the company would want to show on a security-by-security basis that its credit rating was fair and equal to its competitor, Moody’s Corp.
‘Enforcement 40’ for 2020
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