Relevant:
- SEC Takes Chapter From Pontius Pilate on Rating Agency Regulation
- Inaccurate rating models came straight from the federal government
- Ratings Agencies Panic: New Financial Reform Bill Means Expert Liability
- Overhaul of rating agencies bogs down four years after financial crisis
- Judge lets U.S. pursue $5-billion fraud lawsuit against S&P
2012-11-09 — thomsonreuters.com
``S&P moved to dismiss the case on several grounds, including an argument that state-law claims against S&P are pre-empted by federal regulation of the rating agencies. The agency's most substantive defense was that the AG's case was based on statements that are either opinions protected under the First Amendment or generalities that don't amount to actionable representations.''
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