{"id":39880,"date":"2015-02-04T07:41:30","date_gmt":"2015-02-04T06:41:30","guid":{"rendered":"http:\/\/beta.next-finance.net\/news\/calpers-to-recover-more-than-300-million-from-standard-poors-in-investment-ratings-settlements\/"},"modified":"2015-02-04T07:41:30","modified_gmt":"2015-02-04T06:41:30","slug":"calpers-to-recover-more-than-300-million-from-standard-poors-in-investment-ratings-settlements","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/news\/calpers-to-recover-more-than-300-million-from-standard-poors-in-investment-ratings-settlements\/","title":{"rendered":"CalPERS to Recover More than $300 Million from Standard &#038; Poor&#8217;s in Investment Ratings Settlements"},"content":{"rendered":"<p>The settlement from a suit filed by the U.S. Department of Justice and 20 State Attorneys General, announced today by U.S. Attorney General Eric Holder and California Attorney General Kamala Harris, will send approximately $176 million to CalPERS. A separate settlement of CalPERS&#8217; individual suit will give the fund approximately $125 million.<\/p>\n<p><em>&#8220;This money belongs to our members and will be put back to work to ensure their long-term retirement security,&#8221;<\/em> said Anne Stausboll, Chief Executive Officer for CalPERS. <em>&#8220;We thank the Attorney General Kamala Harris and the U.S. Department of Justice, as well as our own legal team, for their work on these cases.&#8221;<\/em><\/p>\n<p>This settlement resolves charges against S&#038;P in CalPERS&#8217; individual suit for losses CalPERS sustained from investments in three structured investment vehicles that also collapsed during the financial crisis. However, it does not resolve the same charges against Moody&#8217;s Investors Service in that case.<\/p>\n<p>CalPERS has recovered approximately $900 million, to date, from settlements related to investment losses sustained during the financial crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The California Public Employees\u2019 Retirement System (CalPERS) is poised to receive approximately $301 million in damages from Standard &#038; Poor&#8217;s (S&#038;P) and parent company McGraw-Hill Financial, the result of settlements in cases against S&#038;P that stemmed from its rating of mortgage-backed and other securities prior to the financial crisis.<\/p>\n","protected":false},"author":20,"featured_media":39878,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1655,1651,1437,2094,2007],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/39880"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=39880"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/39880\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/39878"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=39880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=39880"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=39880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}