LHOME_Logo_Color_RGB.png
  • Home

  • About Us

    • Our Board and Staff
    • In the News
    • Legality and Reporting
    • Our Investment Area
  • Loans

  • Business Center

    • Back 2 Business
    • Business Coaching
    • New Business
  • Contact

  • Blog

  • More

    Use tab to navigate through the menu items.
    • linkedin
    To see this working, head to your live site.
    • All Posts
    • My Posts
    Meya dadada
    Dec 09, 2021

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

    in Self Help Forum


    Goldman Sachs Group Inc must again face a class action by shareholders who said they lost US$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.


    Sign up for สล็อตออนไลน์ in the form of arcade games such as fishing games, easy application procedures.


    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.


    Shareholders accused Goldman of concealing its packaging and selling of collateralized debt obligations it wanted to fail so favored clients like hedge fund billionaire John Paulson could secretly bet against them. They said Goldman's stock price fell as the truth became known.


    Goldman declined to comment. Darren Robbins, a lawyer for shareholders including the Arkansas Teacher Retirement System, said they were ready to move the 11-year-old case to trial.


    The case had gone to the U.S. Supreme Court, which in June said lower courts could use expert testimony and "a good dose of common sense" in deciding whether generic statements affected stock prices.


    Applying that decision, Crotty said even Goldman's more generic statements could reinforce misconceptions about its practices, and that Goldman offered no evidence its stock price would have "held fast" had it disclosed its conflicts.


    Noting Goldman's claim that dozens of blue-chip companies make similar statements, Crotty said he was "hard pressed" to understand why such statements would achieve "such ubiquity" if they had no effect on stock prices.

    0 comments
    0
    Comments

    Share Your ThoughtsSign up to leave a comment.

    0 comments
    Similar Posts
    • Fem
    • Dating online for new relationship
    • Families left feeling helpless in search for homes
    CDFI Seal

    ©2020 by LHOME. Proudly created with Wix.com