US - Standard & Poor's, Moody's Investors Service and Fitch Ratings must face the California Public Employees Retirement System's lawsuit claiming their faulty risk assessments on structured investment vehicles caused US$1bn in losses.
A state court judge in San Francisco rejected the companies' requests to dismiss Calpers' claims of negligent misrepresentation, Brad Pacheco, a spokesman for Calpers, the largest U.S. pension fund...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date