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Violation Tracker Individual Record

Company: Moody's Investors Service, Inc.
Current Parent Company: Moody's
Penalty: $300,000
Year: 2011
Date: October 14, 2011
Offense Group: government-contracting-related offenses
Primary Offense: False Claims Act and related
Violation Description: Moody's Investors Service, Inc., Standard & Poor's, and Fitch, Inc. agreed to settlements that totalled approximately $900,000 in credits after the state alleged that they misrepresented the meaning of their public bond ratings and gave lower ratings to public bonds, resulting in increased costs of borrowing for the state, cities, towns and school districts. The announcement did not specify how much each company would provide in credits. Here we assume the total was divided equally among the three.
Level of Government: state
Action Type: agency action
Agency: Connecticut Attorney General
Civil or Criminal Case: civil
Facility State: Connecticut
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: information technology
Specific Industry of Current Parent: information services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.