SEC Deal May Be Setback For Goldman Plaintiffs

Law360, New York (July 15, 2010, 7:56 PM EDT) -- 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, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.