Standard & Poor's Rating Services, a subsidiary of McGraw-Hill (MHP: Quote) revealed that the Civil Division of the United States Department of Justice has informed the company that it plans to file a civil lawsuit against S&P focusing on its ratings in 2007 of certain U.S. collateralized debt obligations.
McGraw-Hill steadily declined for the majority of the afternoon Monday and finished down by 8.04 at $50.30 on the highest volume of the year. The stock sank to a 2 1/2 month low and fell below both its 50 and 200-day moving averages.
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by RTT Staff Writer
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