S&P wants government's lawsuit dismissed

04/23/2013 | Reuters · New York Times (tiered subscription model), The

Standard & Poor's sought to dismiss the U.S. government's lawsuit against the credit rating agency, saying the case relies on statements too vague to be used to prove fraud. The company told a federal judge that its statements claiming independence in ratings investments were nothing more than corporate "puffery." The government said S&P engaged in a scheme to defraud investors and financial institutions, assuring them that its ratings were "objective, independent, uninfluenced by any conflicts of interest that might compromise S&P's analytic judgment."

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