Standard & Poorâ??s has filed its motion to dismiss the U.S. Justice Departmentâ??s big fraud suit, which accuses the rating agency of helping trigger the 2008 financial crisis. The companyâ??s defense lawyers came up with a theory that seems on its face outrageous, even insulting. It just might work.
S&P, a unit of McGraw-Hill (MHP), former owner of Bloomberg Businessweek, has hired two of the nationâ??s best known attorneys to fend off the multibillion-dollar civil suit that the Obama administration filed in February. John Keker, a San Francisco-based white collar trial lawyer, and Floyd Abrams of New York, probably the countryâ??s most prominent First Amendment media attorney, make for a formidable duo.
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