S&P Ratings Lawsuits Moved to N.Y. Over State Objections
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McGraw Hill Financial Inc. and its Standard & Poor’s unit won a bid to move to federal court in New York lawsuits filed by 14 states and the District of Columbia accusing the companies of inflating mortgage-backed securities ratings.
The U.S. Judicial Panel on Multidistrict Litigation today granted the request, concluding that consolidating the cases for pre-trial matters including motions and the disclosure of evidence was the most efficient way to proceed.