Securities Fraud

As a follow up to our recent blog post about the SEC’s fine and suspension of Standard & Poor’s, it has just been reported that Standard & Poor’s will pay $1.375 billion to settle lawsuits brought by the U.S. Department of Justice and 20 attorneys general around the country regarding S&P’s bond ratings leading up to the 2008 financial crisis. The settlement is expected to be announced as early as next week. As we stated in our last blog about S&P, we think it has been a long time coming for the rating agencies to be held accountable for their roles in the various securities fraud that caused the near implosion of the U.S. economy in 2008.


This settlement would bring the federal and state governments’ suits against S&P to an end.  Those lawsuits focused on the overly rosy ratings that S&P assigned to mortgage-backed securities and other bond deals that ended up imploding when massive defaults swept across the country. Those defaults ultimately caused massive investor losses.

EN   ES   PT     

Miami Office
Grand Bay Plaza
2665 S. Bayshore Drive
Penthouse 2B
Miami, FL 33133
Telephone: 786.628.8236

Los Angeles Office
Available by Appointment
2029 Century Park East
Century Plaza Tower
Suite 400N
Los Angeles, CA 90067
Telephone: 424.544.7930

New York City Office
Available by Appointment
14 Wall St, 20th Floor
New York, NY 10005
Telephone: 917.382.5217

West Palm Beach Office
Northbridge Centre
515 N. Flagler Drive, Suite P-300
West Palm Beach, FL 33401
Telephone: 561.475.2887

Detroit Office
41000 Woodward Avenue,
Suite 350 East
Bloomfield Hills, Mi 48304
Telephone: 248.368.0182