Monday, June 25, 2012

Dismissal Denied in Goldman Sachs CDO Disclosure Securities Suit : The D & O Diary


Dismissal Denied in Goldman Sachs CDO Disclosure Securities Suit : The D & O Diary:
by Kevin LaCroix
"In a harsh June 21, 2012 opinion (here), Southern District of New York Judge Paul A. Crotty rejected the motion to dismiss of Goldman Sachs and three individual defendants in the securities class action lawsuit pertaining to the infamous “built to fail” Abacus CDO transaction and other ill-fated deals. Judge Crotty did, however, grant the defendants’ motion to dismiss with regard to the plaintiffs’ claims based on the company’s failure to disclose its receipt of a Wells Notice."



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