S&P settles Australian lawsuit over Lehman Bros collapse

A substantial settlement has been reached in a landmark A$200 million ($143 million) class action brought against ratings agency Standard & Poor's, according to the law firm for the local governments, churches and charities bringing the suit. London-based law firm Squire Patton Boggs said on Saturday that the settlement, which is subject to court approval, is likely to have widespread international ramifications for similar actions against Standard & Poor's (S&P) due to the number of