Goldman's Tourre Heads To Trial Next Summer In MBS Suit

Law360, New York (October 11, 2012, 3:01 PM EDT) -- A New York federal judge on Thursday set a July 2013 trial date for the U.S. Securities and Exchange commission suit accusing Goldman Sachs Group Inc. executive Fabrice Tourre of creating a mortgage-backed securities product that was designed to fail.

U.S. District Judge Katherine B. Forrest said at a hearing that, barring extraordinary circumstances, the trial regarding Tourre’s now-infamous Abacus 2007-AC1 collateralized debt obligation will begin July 15. Tourre is accused of securities fraud for not telling institutional investors that Paulson & Co., a hedge fund...
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