Italy prosecutors charge credit-rating agencies with manipulating market

[JURIST] Italian prosecutors on Monday filed suit against five former employees of Standard and Poor's (S&P) and two former employees of Fitch [corporate websites] for allegedly manipulating the market and abusing privileged information that led to the rating agencies' downgrades of Italy. Though magistrates in Rome and Milan have refused to support the claim, prosecutors from the southern town of Trani contend that the agencies failed to respect European rules of transparency [Reuters report]. Specifically, they allege that S&P and...

Source: http://jurist.org/paperchase/2012/11/italy-prosecutors-charge-credit-rating-agencies-with-manipulating-market.php

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