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Morgan Stanley Pushed S&P to Boost Ratings, Investors Say

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At www.bloomberg.com

Morgan Stanley (MS) successfully pressured Standard & Poor's and Moody's Investors Service Inc. to give erroneous investment-grade ratings in 2006 to $23 billion worth of notes backed by subprime mortgages, investors claimed in a lawsuit, citing documents unsealed in federal court. The credit-rating companies have successfully defended themselves from investor lawsuits since the financial crisis by arguing that ratings are opinions, protected by the right to free speech, and that any mistakes were inadvertent.

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At www.bloomberg.com


 

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