Refco-Related Securities Suit V. Goldman Execs Nixed

Law360, New York (January 7, 2009, 12:00 AM EST) -- A shareholder derivative class action accusing corporate officers at Goldman Sachs Group Inc. of ignoring obvious red flags about Refco Inc.'s financial condition prior to Refco's August 2005 initial public offering has been dismissed because no plaintiff-intervenor could be found.

Judge Gerard E. Lynch of the U.S. District Court for the Southern District of New York's Tuesday order said that a sufficient amount of time has now elapsed since public notice was given of the pending dismissal.

The action, one of 14 related cases in New...
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