Goldman Settles Investor Suit Over $696M MBS Offering

Law360, New York (July 18, 2012, 1:25 PM EDT) -- Goldman Sachs Group Inc. has reached a settlement with a class of investors claiming they were misled into buying risky mortgage-backed securities in a $696 million offering, according to a letter to a New York federal judge made public Tuesday.

David Wales, attorney for lead plaintiff Public Employees' Retirement System of Mississippi and the investor class, told U.S. District Judge Harold Baer that the opposing sides had reached a proposed deal in mediation. More than 150 investors, who bought securities that were part of a single...
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