Goldman Pays $27M To Settle Fight Over $700M MBS Offering

Law360, New York (July 31, 2012, 10:01 PM EDT) -- Goldman Sachs Group Inc. is paying $26.6 million to settle a class action brought by investors claiming they were misled into buying risky mortgage-backed securities in a $696 million offering, according to documents filed Tuesday in New York federal court.

In a request for preliminary approval of the deal, lead plaintiff Public Employees' Retirement System of Mississippi revealed that Goldman had agreed to pay the sum to the class of investors. Of that amount, $5.3 million is earmarked for fees and expenses, according to the filing....
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