United States of America filed a Civil Lawsuit against Standard and Poor's

USA filed a civil lawsuit against S&P for false representation of the Mortgage bonds, which resulted in the loss of billions of dollars of investors.

Created On: Feb 6, 2013 11:06 IST

The United States of America on 5 February 2013 filed a civil lawsuit against Standard and Poor's (S&P) the credit rating agency alleging that the agency lied about the nations objectivity and independence by the way it rated the mortgage bonds.

The lawsuit have claimed that as a result of the ratings issued by the S&P, which misrepresented the securities true credit risks the investors, even those who were federally insured financial institution lost billions of dollars on collateralized Debt Obligations.

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एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

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