Goldman Backs Consolidation For CDO Securities Suits

Law360, New York (July 8, 2010, 2:00 PM EDT) -- Goldman Sachs Group Inc. has asked a federal judge to begin consolidating the nearly 20 actions it faces over a series of controversial collateralized debt obligation transactions in the wake of fraud allegations from the U.S. Securities and Exchange Commission.

The investment giant said it would not oppose a motion from plaintiffs Teamsters Allied Benefit Funds and Westchester Putnam Counties Heavy and Highway Laborers Local 60 Benefit Funds to consolidate eight suits filed in the U.S. District Court for the Southern District of New York. But...
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