Goldman Sachs Can't Escape Credit Unions' MBS Suit

Law360, Los Angeles (March 15, 2012, 6:46 PM EDT) -- A California judge said Thursday he would largely preserve claims by U.S. credit regulators that Goldman Sachs & Co. and others violated securities laws by misleading investors over the riskiness of hundreds of millions in mortgage-backed securities sold to two failed credit unions.

U.S. District Judge George H. Wu told a phalanx of attorneys for the National Credit Union Administration Board and defendants Goldman Sachs, GS Mortgage Securities Corp. and Residential Accredit Loans Inc. that he is likely to find that a law extending the statute...
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