Appeals Court Tosses Suit Against Goldman

Law360 (February 22, 2007, 12:00 AM EST) -- An appeals court has upheld a ruling that dismissed a case accusing Goldman Sachs of participating in fraud at a company in which it had invested, in a decision that has implications for investment banks and other big money firms.

The U.S. Court of Appeals for the Seventh Circuit upheld a district court decision that tossed the case against Goldman on the grounds that the complaint failed to adequately allege fraud on the part of the bank, thereby failing to meet the pleading standard.

The case...
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