Judge Pares Investor Class Action Against Goldman

Law360, New York (October 19, 2010, 2:12 PM EDT) -- A federal judge has trimmed one claim from a putative class action accusing Goldman Sachs & Co. of making misleading statements in connection with the sale of mortgage-backed securities.

Judge Miriam Goldman Cedarbaum on Friday dismissed a claim under Section 11 of the Securities Act of 1933, finding that the plaintiff, the Neca-Ibew Health & Welfare Fund, had failed to allege a cognizable injury.

Goldman had sought a dismissal of the plaintiffs' third amended complaint, which also named Goldman units Goldman Sachs Mortgage Co., GS Mortgage...
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