McGraw-Hill (MHP) Off Highs
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Shares of The McGraw-Hill Companies, Inc. (NYSE: MHP) are still notably higher following solid second quarter earnings, but comments on the conference call is giving investors pause and shares are drifting lower. On the call, the company noted the DoJ and SEC are investigating violation of federal law related to S&P's ratings of structured products.
From the call:
In addition, the Civil Division of the Department of Justice and the Division of Enforcement of the Securities and Exchange Commission are investigating potential violation of civil provisions of federal law regarding and relating to S&P's ratings of structured products. Of course we have been in discussions with representatives of both the DOJ and the SEC, and presenting our position on those issues.
Shares of MHP are up 2.4 percent to $46.08.
From the call:
In addition, the Civil Division of the Department of Justice and the Division of Enforcement of the Securities and Exchange Commission are investigating potential violation of civil provisions of federal law regarding and relating to S&P's ratings of structured products. Of course we have been in discussions with representatives of both the DOJ and the SEC, and presenting our position on those issues.
Shares of MHP are up 2.4 percent to $46.08.
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