{"id":5483,"date":"2013-08-21T00:00:00","date_gmt":"2013-08-21T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/08\/attorney_generals_want_securit_1"},"modified":"2022-05-04T14:22:19","modified_gmt":"2022-05-04T19:22:19","slug":"attorney-generals-want-securit-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/attorney-generals-want-securit-1\/","title":{"rendered":"Attorney Generals Want Securities Cases Against Standard Poor\u2019s To Go Back to State Courts"},"content":{"rendered":"\n<p>The attorneys general of Washington, Arizona, South Carolina, Arkansas, Pennsylvania, Colorado, North Carolina, Delaware, Missouri, Idaho, Maine, Mississippi, Indiana, Tennessee, and Iowa want their <a href=\"https:\/\/www.securities-fraud-attorneys.com\">securities cases <\/a>against Standard &amp; Poor\u2019s Rating Services and its parent company The McGraw-Hill Companies Inc. sent back to their state courts. They contend that the cases don\u2019t have federal jurisdiction. <\/p>\n<p>The AGs submitted their consolidated brief in the U.S. District Court for the Southern District of New York. They say that the states\u2019 respective complaints are exclusively state law action causes and the credit rating agency can\u2019t use affirmative defenses to put together federal jurisdiction.<\/p>\n<p>It was the U.S. Judicial Panel on Multidistrict Litigation that moved the 15 state securities lawsuits against Standard &amp; Poor\u2019s to New York\u2019s federal court. Panel chairman Judge Kathryn Vratil, who presides over the U.S. District Court for the District of Kansas, said that they had determined that the \u201cactions involve common question of fact\u201d and centralizing them would be more convenient and expedient for everyone involved. One common \u201cquestion of fact\u201d was over whether the credit rater \u201cintentionally misrepresented\u201d that its structured finance securities analysis was unbiased, autonomous, and not impacted by its business ties with securities issuers.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/attorney-generals-want-securit-1\/\"  title=\"Continue Reading Attorney Generals Want Securities Cases Against Standard Poor\u2019s To Go Back to State Courts\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The attorneys general of Washington, Arizona, South Carolina, Arkansas, Pennsylvania, Colorado, North Carolina, Delaware, Missouri, Idaho, Maine, Mississippi, Indiana, Tennessee, and Iowa want their securities cases against Standard &amp; Poor\u2019s Rating Services and its parent company The McGraw-Hill Companies Inc. sent back to their state courts. They contend that the cases don\u2019t have federal jurisdiction. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3845,3883],"tags":[],"class_list":["post-5483","post","type-post","status-publish","format-standard","hentry","category-credit-rating-agencies","category-standard-and-poors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Attorney Generals Want Securities Cases Against Standard Poor\u2019s To Go Back to State Courts &#8212; Investor Lawyers Blog &#8212; August 21, 2013<\/title>\n<meta name=\"description\" content=\"The attorneys general of Washington, Arizona, South Carolina, Arkansas, Pennsylvania, Colorado, North Carolina, Delaware, Missouri, Idaho, Maine, &#8212; August 21, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/attorney-generals-want-securit-1\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Attorney Generals Want Securities Cases Against Standard Poor\u2019s To Go Back to State Courts &#8212; Investor Lawyers Blog &#8212; August 21, 2013\" \/>\n<meta name=\"twitter:description\" content=\"The attorneys general of Washington, Arizona, South Carolina, Arkansas, Pennsylvania, Colorado, North Carolina, Delaware, Missouri, Idaho, Maine, &#8212; August 21, 2013\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Attorney Generals Want Securities Cases Against Standard Poor\u2019s To Go Back to State Courts &#8212; Investor Lawyers Blog &#8212; August 21, 2013","description":"The attorneys general of Washington, Arizona, South Carolina, Arkansas, Pennsylvania, Colorado, North Carolina, Delaware, Missouri, Idaho, Maine, &#8212; August 21, 2013","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/attorney-generals-want-securit-1\/","twitter_card":"summary_large_image","twitter_title":"Attorney Generals Want Securities Cases Against Standard Poor\u2019s To Go Back to State Courts &#8212; 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