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...

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