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UPDATE 3-U.S. government hits S&P with $5 bln fraud lawsuit

* First lawsuit by U.S. govt against a ratings agency * One of biggest cases yet related to financial crisis fallout * S&P's alleged conduct "egregious" - US attorney general * S&P pledges to defend itself vigorously * S&P parent McGraw-Hill sees shares fall 23 pct in 2 days (Adds comments from legal expert, comment from Holder, details from complaint) By Aruna Viswanatha and Lauren Tara LaCapra

UPDATE 2-U.S. government slams S&P with $5 bln fraud lawsuit

* First lawsuit by U.S. govt against a ratings agency * One of biggest cases yet related to financial crisis fallout * S&P's alleged conduct "egregious" - US attorney general * S&P pledges to defend itself vigorously * 119-page lawsuit was filed late Monday (Adds details from complaint, statement from Levin, background) By Aruna Viswanatha and Lauren Tara LaCapra

S&P faces US gov't suit over 2007 mortgage bond ratings

The US Justice Department plans to sue Standard & Poors over its rating of mortgage bonds prior to the 2008 financial crisis, S&P said Monday. The suit, according to S&P, targets its ratings in 2007 of certain collateralized debt obligations, packages of mortgages sold to investors that were at the center of the the 2008 financial crisis sparked by the US housing collapse. S&P promised a vigorous defense, saying the looming lawsuit would be "entirely without factual or legal merit."

S&P faces US gov't suit over 2007 mortgage bond ratings

The US Justice Department plans to sue Standard & Poors over its rating of mortgage bonds prior to the 2008 financial crisis, S&P said Monday. The suit, according to S&P, targets its ratings in 2007 of certain collateralized debt obligations, packages of mortgages sold to investors that were at the center of the the 2008 financial crisis sparked by the US housing collapse. S&P promised a vigorous defense, saying the looming lawsuit would be "entirely without factual or legal merit."

URGENT ¥¥¥ S&P faces US gov't suit over 2007 mortgage bond ratings

The US Justice Department plans to sue Standard & Poors over its rating of mortgage bonds prior to the 2008 financial crisis, S&P said Monday. S&P said the suit, focused on its ratings in 2007 of certain collateralized debt obligations, would be "entirely without factual or legal merit." jmb/pmh/vs

CORRECTED-UPDATE 2-Months after spat, Turkey and S&P fail on ratings deal

(Clarifies in paragraph 3 of Jan 14 story that S&P's ratings withdrawals apply to individual sovereign Turkish debt issues.) * S&P no longer paid by Turkey * Turkey reacted angrily to downward revision * Junk rating seen as unjustified By Seltem Iyigun
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