Goldman Investors Win Class Cert. In Action Over Risky MBS

Law360, New York (February 3, 2012, 1:47 PM EST) -- A New York federal judge certified a class of plaintiffs Thursday in an action alleging Goldman Sachs Group Inc. misled investors into buying risky mortgage-backed securities.

U.S. District Judge Harold Baer cleared a class of an estimated 150-plus investors who bought securities from a single $696 million offering in March 2006. The Public Employees' Retirement System of Mississippi, which was appointed class representative Thursday, alleges Goldman sold the mortgage pass-through certificates using false and misleading offering documents that overrated the quality of the home loans underlying...
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