Five of Ohio's public employee retirement and pension funds announced today that they have filed suit against three national credit rating agencies for allegedly releasing unjustified ratings, which, in turn "wreaked havoc" on their deflating investments during the stock market crash, state Attorney General Richard Cordray said today.

According to the Nov. 20 press release, Cordray states Standard & Poor's,Moody's Investors Service and Fitch Ratings provided inflated ratings for MBS in exchange for lucrative fees from their issuers.

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