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California Courts of Appeal

May 29, 2014

Lawsuit against rating agencies can move ahead, appellate panel rules

An appellate court has ruled that the nation's largest public pension fund can pursue its lawsuit against the nation's top credit ratings agencies.


By Emily Green


Daily Journal Staff Writer


An appellate court has ruled that the nation's largest public pension fund can pursue its lawsuit against the nation's top credit ratings agencies.


The decision is a win for the California Public Employees' Retirement System, which in 2009 sued Moody's Investor Service Inc. and Standard & Poor's Financial Services LLC for what it said were "wildly inaccurate" credit r...

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