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In the spring of 2013, Moody's and Standard & Poor's settled two "long-running" lawsuits "seeking to hold them responsible for misleading investors about the safety of risky debt vehicles that they had rated". The suits were filed in 2008 and had sought more than $700 million of damages.
Moody's EPS guidance was notably better than expected, at $3.45 to $3.55 in 2013. It seems like most of the risk from a lawsuit is already priced in. I'd say it looks like a good time to buy.
In April 2013, Moody's, along with Standard & Poor's and Morgan Stanley, settled fourteen lawsuits filed by groups including Abu Dhabi Commercial Bank and King County, Washington. The lawsuits alleged that the agencies inflated their ratings on purchased structured investment vehicles.
What: Shares of ratings agencies Moody's and. Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're ...
Assured Guaranty Disputes Moody's Rating Decision and Announces Future Actions HAMILTON, Bermuda--(BUSINESS WIRE)-- Assured Guaranty Ltd. (together with its subsidiaries, Assured Guaranty or the ...
July 2012: Moody’s said it reached a settlement with stockholders in lawsuits filed over structured finance ratings. [33] April 2013: Moody's reached a settlement avoiding what would have been their first jury trial over crisis-era ratings. The fourteen plaintiffs were led by Abu Dhabi Commercial Bank and King County, Washington. They filed ...
Moody's Corporation Reports Results for First Quarter 2013 1Q13 revenue up 13% from 1Q12 to $731.8 million 1Q13 operating income up 4% from 1Q12 to $280.4 million, which includes a litigation ...
S&P and Moody's are based in the US, while Fitch is dual-headquartered in New York City and London, and is controlled by Hearst. As of 2013 they hold a collective global market share of "roughly 95 percent" [1] with Moody's and Standard & Poor's having approximately 40% each, and Fitch around 15%. [2]