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McGraw Hill Shares Are Getting Crushed On Report Of Imminent Lawsuit Against S&P

Matthew Boesler

The Wall Street Journal is reporting that credit rating agency Standard & Poors could face a lawsuit from the U.S. Department of Justice over the way it rated mortgage bonds before the financial crisis.

The WSJ report cites unnamed sources, but the market appears to be taking the threat pretty seriously.

Shares of parent company McGraw Hill are off nearly 7.5 percent in intraday trading:

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