One rep testified it wasn’t actionable because ratings were only opinion. However, it was also testified that they were knowingly giving false ratings to get business from the rated companies which would mean they were knowingly deceiving investors.
“However, it was also testified that they were knowingly giving false ratings to get business from the rated companies which would mean they were knowingly deceiving investors.”
I am of that view. On a macro scale, not one bit different than a “creative” home appraiser who always seems to “make the numbers” so that the mortgage originator will hire him again and again for the next gigs.