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Korean Insurer Hits Goldman With $47M Securities Suit

By Pete Brush ( March 18, 2011, 4:19 PM EDT) -- South Korea's Heungkuk Life Insurance Co. Ltd. sued Goldman Sachs Group Inc. for $47.3 million on Thursday in New York, claiming the financial giant deliberately dumped risky residential mortgage-backed securities on investors knowing that "huge profits" would flow to Goldman when the assets inevitably failed....

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