Goldman's Tourre Asks Judge To Toss SEC ABACUS Suit

Law360, New York (February 14, 2011, 8:20 PM EST) -- Lawyers for a Goldman Sachs Group Inc. executive who allegedly orchestrated a mortgage-backed securities deal that was rigged to fail told a federal judge Monday that transactions at issue happened overseas, possibly making them immune to U.S. securities fraud laws.

Allen & Overy LLP partner Andrew Davies, a lawyer for defendant Fabrice Tourre, told a judge in the U.S. District Court for the Southern District of New York that a case brought by the U.S. Securities and Exchange Commission failed in part because of the foreign...
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