Goldman Settles Sham Suit With SEC

July 15, 2010 at 1:22 pm  ·  Category: Market Commentary, Politics, SEC, Stocks

The SEC announced a few minutes ago that they settled their suit against Goldman Sachs (GS) for $550 million.  Goldman did not admit or deny the SEC’s allegations though it acknowledged that its marketing materials for the ABACUS synthetic CDO were incomplete for not disclosing Paulson’s role in the selection of the portfolio.

Goldman’s shares are soaring in the after-hours.

You can read my previous discussion of the SEC’s suit against Goldman here: “‘Top Gun FP Client Note: Blowout Earnings Overshadowed By SEC Suit Against Goldman”, Top Gun FP, April 22.

gs-1-day-chart
Disclosure: Top Gun is long shares of Goldman Sachs (GS).

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 
One Response to “Goldman Settles Sham Suit With SEC”
  • Thanks for sharing this piece of knowledge about Goldman Sachs ongoing allegation by SEC

    Investment  ·  Jul 16, 2010 at 7:40 pm  ·  Permalink

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