April 25, 2013

Attorney General George Jepsen today released the following statement on the decision by U.S. District Judge Stefan R. Underhill late Wednesday to remand to state court the state’s action against The McGraw-Hill Companies, Inc., and Standard and Poor’s Financial Services, LLC.  The defendants had removed the action to federal court on March 6:

“We are pleased by Judge Underhill’s decision and are prepared to litigate the matter in Connecticut Superior Court where it belongs.”

“As our complaint alleges, we believe S&P took its own financial interests into consideration when rating structured securities and misrepresented that fact to the public.  We intend to pursue our claim vigorously as allowed under provisions of the Connecticut Unfair Trade Practices Act."

View the U.S. District Court decision here.

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