{"id":5492,"date":"2013-08-06T00:00:00","date_gmt":"2013-08-06T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/08\/liquidators_of_bear_stearns_he"},"modified":"2022-05-04T15:02:39","modified_gmt":"2022-05-04T20:02:39","slug":"liquidators-of-bear-stearns-he","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/liquidators-of-bear-stearns-he\/","title":{"rendered":"Liquidators of Bear Stearns Hedge Funds Sue S & P, Moody\u2019s and Fitch for $1.12B"},"content":{"rendered":"

Liquidators are suing Moody\u2019s Investors Service (MCO), Standard & Poor\u2019s, and Fitch Ratings over their issuing of allegedly fraudulent and inflated ratings for the securities belonging to two offshore Bear Stearns (BSC) hedge funds. The plaintiffs are seeking $1.12 billion.<\/p>\n

The credit raters are accused of misrepresenting their autonomy, the timeliness of their residential mortgage-backed securities (RMBS) <\/a>and collateralized debt obligations (CDOs) ratings, and the quality of their models. Because of the purportedly tainted ratings for securities that were supposedly \u201chigh-grade,\u201d the funds lost $1.12B.<\/p>\n

The funds, which were operated by Matthew Tannin and Ralph Cioffi, failed in 2007. The US government later pursued the two men for securities fraud, but they were acquitted. They did, however, settle an SEC securities case over related allegations last year.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Liquidators are suing Moody\u2019s Investors Service (MCO), Standard & Poor\u2019s, and Fitch Ratings over their issuing of allegedly fraudulent and inflated ratings for the securities belonging to two offshore Bear Stearns (BSC) hedge funds. The plaintiffs are seeking $1.12 billion. The credit raters are accused of misrepresenting their autonomy, the timeliness of their residential mortgage-backed […]<\/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":[3845,3881,3882,3757,3883],"tags":[],"class_list":["post-5492","post","type-post","status-publish","format-standard","hentry","category-credit-rating-agencies","category-fitch","category-moodys","category-mortgagebacked-securities","category-standard-and-poors"],"yoast_head":"\nLiquidators of Bear Stearns Hedge Funds Sue S & P, Moody\u2019s and Fitch for $1.12B — Investor Lawyers Blog — August 6, 2013<\/title>\n<meta name=\"description\" content=\"Liquidators are suing Moody\u2019s Investors Service (MCO), Standard & Poor\u2019s, and Fitch Ratings over their issuing of allegedly fraudulent and inflated — August 6, 2013\" \/>\n<meta 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