SEC To File New Complaint Against Goldman's Tourre

Law360, New York (November 2, 2010, 2:45 PM EDT) -- Goldman Sachs Group Inc.'s Fabrice Tourre has lost a bid to immediately terminate the government's fraud suit against him after arguing that the transaction he masterminded, which lost investors $1 billion, occurred overseas and was not subject to U.S. laws.

Judge Barbara S. Jones turned down Tourre's Sept. 29 motion for judgment on the pleadings that the U.S. Supreme Court's decision in Morrison v. National Australia Bank Ltd. excluded him from prosecution, according to a ruling Monday in the U.S. District Court for the Southern District...
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