The top three rating agencies – S&P, Moody’s and Fitch – have been targeted in a lawsuit filed by the liquidators of two Bear Stearns hedge funds, Reuters reports.
The top-three rating agencies – S&P, Moody’s and Fitch – have been targeted in a lawsuit filed by the liquidators of two Bear Stearns hedge funds, Reuters reports.
The suit alleges the agencies “fraudulently assign[ed] inflated ratings to securities in the run-up to the financial crisis,” according to the report.
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