US News

Goldman Sachs must again face crisis-era securities fraud class action

Published by
Reuters

By Jonathan Stempel NEW YORK (Reuters) – Goldman Sachs Group Inc must again face a class action by shareholders who said they lost $13 billion because the Wall Street bank hid conflicts of interest when creating risky subprime securities before the 2008 financial crisis, a judge ruled on Wednesday. U.S. District Judge Paul Crotty in Manhattan rejected Goldman’s claim that its general statements about its business, including that client interests “always come first” and “integrity and honesty are at the heart of our business,” were too generic to mislead investors and affect its stock price. Sh…

Read More

Facebook Comments

Check Also

The Ten Rules to Put an Annuity Into Your Retirement Plan

Even if you love what you do for ...

Archives