News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Judge rules California suit against S&P can proceed

State and federal prosecutors have sued S&P in recent months for allegedly shoddy ratings assigned to securities before the financial crisis

A judge ruled Wednesday that the California attorney general's lawsuit against Standard & Poor's Ratings Services can move forward.

The ruling clears an initial legal hurdle for California Attorney General Kamala Harris and gives additional momentum to state and federal prosecutors who have sued S&P in recent months for allegedly shoddy ratings assigned to securities before the financial crisis.

WSJ Logo