•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    S&P could be forced to pay $1 billion or more in civil suit

    Standard & Poor’s Ratings Service expects the US Justice Department and New York State officials to file civil charges against the firm, accusing S&P of fraudulently rating mortgage bonds that led to the financial crisis.

    The Department of Justice had been involved in settlement negotiations with S&P until recently. However, the discussions were broken off after DOJ officials said they would seek a settlement in excess of $1 billion from S&P, which is owned by McGraw-Hill Company. This is the equivalent of about a year’s profits by the parent corporation. A lawsuit by the government now appears likely.

    Standard & Poor’s is one of several US credit ratings agencies that issue reports and ratings of companies and their financial instruments as well as those of sovereign nations.

     

    Related Articles

    Dejour secures $1.5 million for Woodrush development

    08/12/2014 Dejour Energy Inc. has entered into subscription agreements for an equity financing that will result in gross proceeds of US$1.5 million with three institutional investors to support the company’s ...

    TPH is in the advice business

    08/11/2014 From boutique-sized investment back to an integrated financial institution specializing in energy investment and advisory services, Tudor, Pickering, Holt & Co. is well-known in the energy spac...

    Lending in a boom market

    08/11/2014

    Energy executives brim with optimism in CIT/Forbes survey

    Private equity outlook

    08/11/2014 After weathering a long financial storm, private equity firms are growing bolder and have an increased appetite for investment. That is the conclusion drawn from a recent survey and study on privat...

    ENERGY PLAYERS

    08/11/2014

    More Oil & Gas Financial Articles

    Dejour secures $1.5 million for Woodrush development

    Tue, Aug 12, 2014

    Dejour Energy Inc. has entered into subscription agreements for an equity financing that will result in gross proceeds of US$1.5 million with three institutional investors to support the company’s third-quarter 2014 Woodrush development plan.

    TPH is in the advice business

    Mon, Aug 11, 2014

    From boutique-sized investment back to an integrated financial institution specializing in energy investment and advisory services, Tudor, Pickering, Holt & Co. is well-known in the energy space. OGFJ sat down with Maynard Holt, co-president of TPH and leader of the firm’s upstream advisory business, to talk shop

    Lending in a boom market

    Mon, Aug 11, 2014

    Energy executives brim with optimism in CIT/Forbes survey

    Private equity outlook

    Mon, Aug 11, 2014

    After weathering a long financial storm, private equity firms are growing bolder and have an increased appetite for investment. That is the conclusion drawn from a recent survey and study on private equity activity jointly commissioned by Duff & Phelps and Shearman & Sterling LLP in association with Mergermarket.

    ENERGY PLAYERS

    Mon, Aug 11, 2014

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ