Investigation Overview
February 9, 2016 (Shareholders Foundation) - An investigation on behalf of current long-term investors in shares of McGraw Hill Financial Inc (NYSE:MHFI) was announced over potential breaches of fiduciary duties by certain officers and directors at McGraw Hill Financial.
Investors who purchased shares of McGraw Hill Financial Inc (NYSE:MHFI) and currently hold any of those NYSE:MHFI shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain McGraw Hill Financial McGraw Hill owns the credit-rating agency Standard & Poor's, which the government accused of defrauding investors by misrepresenting its ratings as objective. In 2013 U.S. government alleged in Federal Court that Standard & Poor's inflated its ratings of mortgage-backed securities, ignoring the inherent credit risks that brought the financial sector to its knees in 2008. Standard & Poor's paid $1.375 billion to settle the Justice Department's lawsuit, $58 million to the Securities and Exchange Commission, and $19 million to settle various state lawsuits.
McGraw Hill Financial Inc reported that its annual Total Revenue rose from over $5.05 billion in 2014 to over $5.31 billion in 2015 and that its Net Loss of $293 million in 2014 turned into a Net Income over $1.15 billion in 2015.
Shares of McGraw Hill Financial Inc (NYSE:MHFI) declined from over $108 per share in March 2015 to as low as $78.55 per share on February 3, 2016.
On February 9, 2016, NYSE:MHFI shares closed at $83.59 per share.
officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.