Goldman Says It Made No Misrepresentations In MBS Deal

By Cara Salvatore (August 10, 2015, 9:09 PM EDT) -- Goldman Sachs Group Inc. told a New York federal judge Monday that it made absolutely no misrepresentations when it sold highly leveraged mortgage-backed securities to a client, asking for a full dismissal of the class action.

In a reply memorandum in support of a supplemental motion for summary judgment, Goldman said the lead plaintiff, hedge fund Dodona I LLC, was a sophisticated investor and is unfairly seeking to hold Goldman liable for losses that no broker-dealer could have predicted with certainty. Dodona lost money on some of the securities when the market went south in 2007.

Goldman said there's no way...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!