Goldman Sachs Sued By New York Law Firm
Headline News
Law firm Wolf Popper, LLP announced Monday it has filed a class action lawsuit against investment bank Goldman Sachs on behalf of investors who purchased securities, options or common stock between August 2009 and April 2010. The suit claims Goldman Sachs did not disclose to shareholders that it was under investigation by the Securities Exchange Commission.
The SEC began investigating Goldman in 2008 for its role in the sale of a package of mortgage-related securities that were allegedly constructed and sold with the knowledge it would perform poorly. More recently, the SEC filed formal charges of fraud against the bank and one of its officials.
When the news of the SEC’s suit went public in mid-April, Goldman stock fell 13% in one day. Two weeks later, Goldman’s stock fell more than 9% in a single day.
According to Wolf Popper, Goldman never disclosed to its shareholders the SEC investigation, and knowingly misled investors to think Goldman was committed to its clients’ best interests.
The Wolf Popper press release did not specify a court date or contain any additional information on the suit.
Related listings
-
Florida Probing Law Firm in Foreclosures
Headline News 04/30/2010The Florida attorney general's office is investigating possible misconduct by a large law firm that files foreclosures for banks, according to a posting on its Web site.The Web site said the office is looking at whether Florida Default Law Group, bas...
-
Law firm uses e-mail to increase efficiency, new biz opps
Headline News 04/29/2010Midsize law firm Pryor Cashman is making the most of its routine news and communications, using e-mail to help create new sales opportunities. The company, which has 125 attorneys and 90 practice areas, has been using e-mail marketing for about five ...
-
Goldman wages PR fight to clear its name
Headline News 04/27/2010Goldman Sachs Group Inc. is fighting to clear its name, but not in a court of law.Goldman has hit back hard against civil fraud charges with a public relations blitz aimed at poking holes in the Securities and Exchange Commission's case and repairing...
New Rochelle, New York Personal Injury Lawyers
If you or a loved one has been injured in an accident, contact Kommer, Bave & Ollman, LLP, in New Rochelle, New York, immediately. We can answer all your questions and work with you to determine if you have the grounds for a personal injury lawsuit. The attorneys at our firm are determined to resolve even the most difficult of cases. We will work closely with you to determine the best course of action to get your claim or case resolved in the most efficient way possible. We will fight for your right to compensation! No one should have to suffer a financial burden from the result of another person’s carelessness. The attorneys at Kommer, Bave & Ollman, LLP will aggressively fight to ensure that justice is served on your behalf.