This is a usatoday.com article.
The Department of Justice plans to sue Moody’s over valuations the company assigned to mortgage-backed securities in the run-up to the nation’s financial crisis in 2008, the financial ratings giant said Friday.
Prosecutors wrote in a letter Sept. 29 that the civil complaint would be filed in New Jersey federal court against Moody’s and its Moody’s Investors Service unit, the company disclosed in a litigation update included with its higher-than-forecast earnings results for the third quarter.
PiggyBankBlog Bailiff: “All rise! The honorable Congresswoman Marcy Kaptur has entered the Courtroom of Public Opinion!”