The attorneys general of 15 states are fighting for a return to state courts for lawsuits alleging that Standard & Poor’s Financial Services LLC issued inflated ratings for mortgage-backed securities leading up to the recession.
In multidistrict litigation pending in federal court in New York, Olha Rybakoff, senior counsel for Tennessee Attorney General Robert Cooper Jr., filed a consolidated brief on August 2 on behalf of 14 of those states arguing that their complaints should be sent back to state courts, where they originally were filed.
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