Goldman Sachs, UC Strike $11M Deal In Enron Suit

Law360, New York (February 14, 2008, 12:00 AM EST) -- The University of California has reached an $11.5 million settlement with Goldman Sachs over investment losses related to the collapse of Enron Corp.

The university is the lead plaintiff in the class action, which alleged that Goldman Sachs violated Section 11 of the Securities Act of 1933 by marketing 7% exchangeable notes from Enron via a false registration statement. The notes were exchangeable for stock in Enron Oil & Gas Co.

The settlement covers purchase of the notes from their date of issuance until Dec. 2,...
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