Goldman Sues To Stop FINRA Arbitration Over $125M In ARS

Law360, New York (June 12, 2012, 1:25 PM EDT) -- Goldman Sachs & Co. on Monday sought to stop an arbitration request filed before the Financial Industry Regulatory Authority by a California school district and public financing group, saying their claims over $125 million in failed bond sales must be heard in New York federal court.

Golden Empire Schools Financing Authority and the Kern High School District filed its FINRA complaint in February, accusing Goldman Sachs of failing to disclose facts about market risks and opportunities, and of placing “support bids” to prop up the auction...
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