Relevant:
- Goldman Sachs Wins Suit Over $1.2 Billion Libyan Fund Losses
- Goldman Sachs and the $580 Million Black Hole
- Goldman Sachs to pay US$3.15b to settle mortgage case
- Goldman Sachs, CIT Reach Deal to Cut Credit Facility
- Goldman Sachs Undermines the Housing Markets, Kills the Economy, and Feels Bad for Qaddafi
2012-07-17 — nytimes.com
With Goldman Sachs on the job, the corporate takeover of Dragon Systems in an all-stock deal went terribly wrong. Goldman collected millions of dollars in fees -- and the Bakers lost everything when Lernout & Hauspie was revealed to be a spectacular fraud. L.& H. had been founded by Jo Lernout and Pol Hauspie, who had once been hailed as stars of the 1990s tech boom. Only later did the Bakers learn that Goldman Sachs itself had at one point considered investing in L.& H. but had walked away after some digging into the company.
...
In federal court in Boston, the Bakers are demanding damages, including interest and legal fees, that could top $1 billion. That figure is nearly twice what Goldman paid to settle claims that it misled investors about subprime mortgage investments before the financial crisis of 2008.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
