Moody’s Investors Service Inc. says the California Public Employees Retirement System can’t blame it for almost $800 million in losses on top-rated investments that later collapsed because its assessments are opinions and not guarantees or facts.
PG&E Corp., owner of California’s largest utility, was charged with 12 pipeline safety violations by the U.S. government for a 2010 natural gas explosion that killed eight people and left a crater the size of a house.
McGraw Hill Financial Inc.’s Standard & Poor’s unit must face California’s claims it deceived the state’s pension funds in its ratings of mortgage-back securities, a judge said in a provisional ruling.
Nine months into her job as California attorney general, Kamala Harris found herself across the table from lawyers for five of the nation’s biggest lenders, trying to hammer out a deal to help mortgage holders weather the foreclosure crisis.
California rules allowing counties to place restrictions on who can carry concealed weapons will remain in force while the federal appeals court that struck them down decides whether to reconsider its decision.
Former Republican senators Alan Simpson and Nancy Kassebaum joined a group supporting civil marriage rights for same-sex couples in a filing with the federal appeals court reviewing gay-marriage bans in Utah and Oklahoma.
Kentucky will appeal a U.S. judge’s decision requiring recognition of out-of-state gay marriages even as the state’s attorney general said he’ll no longer defend the jurisdiction’s laws against same-sex unions.