SEC Deal May Be Setback For Goldman Plaintiffs

Law360, New York (July 15, 2010, 7:56 PM ET) -- The U.S. Securities and Exchange Commission's record settlement with Goldman Sachs Group Inc. over a mortgage-based investment vehicle rigged to fail has pulled the rug from under plaintiffs pursuing private civil suits against the investment bank, experts say.

While the $550 million settlement over claims of misleading investors is the “largest-ever penalty paid by a Wall Street firm,” according to the SEC, securities law professors say a full-blown legal battle, complete with a trial and ample discovery, may have provided much more help to private litigants...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required