Supreme Court Rejects Goldman Sachs Appeal in Mortgage-Backed Securities Case
By Brent Kendall - Fox Business (Dow Jones)
The U.S. Supreme Court on Monday refused to consider an appeal by subsidiaries of Goldman Sachs Group Inc. (GS) that sought to derail a class-action lawsuit alleging the company provided false and misleading information about mortgage-backed securities it underwrote and issued.
Institutional investor NECA-IBEW Health & Welfare Fund alleged Goldman Sachs' investment materials for 17 offerings of mortgage-backed certificates provided a variety of misleading information, including on the practices of mortgage lenders and the appraisals of the properties backing the securities.
GoldmanSachs666 Message Board
Fraud*
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia
Monday, March 18, 2013
Goldman Sachs Is "Misleading Information"
Here's a bit of positive news for a class-action lawsuit against Goldman Sachs:
Subscribe to:
Post Comments (Atom)
0 COMMENTS:
Post a Comment