AUGUSTA, Maine (NEWS CENTER) - Maine Attorney General Janet Mills says the state is joining a lawsuit that alleges the rating agency Standard & Poor's used deceptive practices that helped lead to the nation's recent financial crisis.
The lawsuit charges and Standard & Poor's (S&P) knew that it was unequipped to analyze the complex securities exchanges at the heart of the collapse. The suit says that S&P continued to give these exchanges AAA ratings - the safest rating possible.
Maine joins with Arizona, Arkansas, California, Connecticut, Delaware, Idaho, Iowa, North Carolina, Missouri, Pennsylvania, Tennessee, Washington and the District of Columbia.
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