US regulators sue Goldman Sachs for fraud

Goldman Sachs Group Inc has been sued by US regulator s for fraud tied to collateralised debt obligations that contributed to the worst financial crisis since the Great Depression.

17th April, 2010

Goldman Sachs Group Inc has been sued by US regulator s for fraud tied to collateralised debt obligations that contributed to the worst financial crisis since the Great Depression. The firm’s shares tumbled by 16 per cent last Friday, while financial stocks slumped.

Goldman Sachs mis-stated and omitted key facts about a financial product tied to subprime mortgages as the American housing market was starting to falter, the Securities & Exchange Commission alleged in...

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