Goldman Sachs Dismissed From Fannie Mae Suit

Law360, New York (May 9, 2007, 12:00 AM EDT) -- Investment bank Goldman, Sachs & Co. was dismissed from a securities fraud suit brought by investors of mortgage lender Fannie Mae on Tuesday, when a judge dismissed all claims against the firm.

Federal judge Richard Leon granted Goldman Sachs motion to dismiss the shareholders’ claims in the putative class action, which accused the bank of being party to a four-and-a-half-year scheme to defraud investors.

In his memorandum opinion issued Tuesday, Judge Leon said the plaintiffs’ complaint against the investment bank “must be dismissed” for its failure...
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