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Liquidators sue three major rating agencies over hedge-fund losses

Washington Post – The liquidators of two Bear Stearns hedge funds filed a lawsuit Monday against the three major U.S. rating agencies, accusing them of fraudulently assigning inflated ratings to securities in the run-up to the financial crisis.

The lawsuit seeks to recover more than $1 billion from Moody’s Investors Service, Standard & Poor’s and Fitch Ratings to cover losses sustained by the hedge funds.

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