Add a new comment

CalPERS Settles Moody’s Negligent Ratings Case for Record $130 Million

The California Public Employees’ Retirement System (CalPERS) today announced it has settled its case against Moody’s and Moody’s Investors’ Services (Moody’s) for a record $130 million. The case stemmed from Moody’s erroneous ratings of "AAA" rated structured investment vehicles prior to the financial crisis.