Goldman Asks Judge To Toss CDO Disclosure Suit

Law360, New York (April 6, 2011, 1:33 PM EDT) -- Goldman Sachs Group Inc. asked a New York federal judge on Tuesday to dismiss a former trader's class action accusing it of failing to disclose its short positions on collateralized debt obligations for failure to state a claim.

Goldman argued that the plaintiff, the owner of investment fund Dodona I LLC, failed to appreciate that someone had to take the short positions in order for the CDOs to exist, according to a memorandum of law filed in the U.S. District Court for the Southern District of...
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