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Posted on: Sept. 1, 2016, 11:28 a.m.
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. Early in 2015, CalPERS settled with defendant Standard & Poor's (S&P) for $125 million, bringing total recovery from the now-concluded lawsuit to $255 million. "This resolves our lawsuit against Moody's and restores money that belongs to our ... Full investment news article