Judge Refuses To Dismiss Claims Against Ratings Agency Over Faulty Ratings

Judge Refuses To Dismiss Claims Against Ratings Agency Over Faulty Ratings

LOS ANGELES - A federal judge in California on July 16 ruled that the U.S. government has properly pleaded its claims against The McGraw-Hill Cos. Inc. and its subsidiary, rejecting, among other things, the defendants' claims that the alleged misrepresentations made regarding its credit ratings for certain subprime mortgage-backed securities were mere puffery (United States of America v. McGraw-Hill Companies Inc., et al., No. 13-0779, C.D. Calif.).

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