On December 17, 2014, the State of Tennessee filed a petition in the Davidson County Circuit Court seeking to compel National Business Advertising Inc. (NBAI) of Florence, Kentucky to comply with the State's Request for Information and investigation, pursuant to Tenn. Code Ann. § 47-18-106, in connection with NBAI's sale of advertising space on UT Martin football schedules...NBAI filings.
Restored Balance, Inc. and its owners allegedly violated the Tennessee Consumer Protection Act by failing to substantiate health claims related to their product Estriol. As a result of the State's investigation, the parties entered into an Assurance of Voluntary Compliance. Under the terms of the Assurance, Restored Balance and its owners agreed to cease providing hormone replacement therapy from or within Tennessee...Restored Balance filings.
In February 2015, Tennessee entered into a settlement with S&P resolving allegations from the State's complaint that S&P misled investors when it rated structured finance securities in the lead-up to the 2008 financial crisis. The State had alleged that, despite S&P's repeated statements emphasizing its credit ratings analysis was independent and objective, the credit rating agency allowed its analysis to be influenced by its desire for increased revenue and market share. These misrepresentations concerned the structured finance securities that S&P rates, including residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDO)...S&P filings.