University of Pittsburgh

Douglas Branson Available to Comment on U.S. Justice Department’s Lawsuit Against Standard & Poor’s

Publish Date/Time: 
February 8, 2013

Douglas M. Branson, W. Edward Sell Professor of Business Law, is available to comment on the residential mortgage-backed securities and collateralized debt obligations that issuers pooled; the classes of notes, commonly referred to as “tranches,” that were securitized by the pools; and the Standard & Poor’s (S&P)-rated tranches that were marketed and sold primarily to financial institutions and other qualified institutional investors.

The U.S. Department of Justice has filed civil fraud charges against S&P, the nation’s largest credit-ratings agency, alleging that the firm engaged in a scheme to defraud investors in structured financial products known as residential mortgage-backed securities and collateralized debt obligations.

See the entire press release here.

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