In 2010, during the depths of the financial crisis, then-Connecticut Attorney General Richard Blumenthal filed a lawsuit against securities- and bond-rating company Standard & Poor’s, accusing it of inflating ratings of risky, mortgage-backed investments whose collapse helped trigger the Wall Street meltdown.
Now that litigation has paid off for Connecticut, the federal government and the other 18 states that joined in. Connecticut will receive $36 million from a national settlement that will total $1.38 billion. Half the national settlement total will go to the 19 states and the District of Columbia and the other half to the federal government.
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