Category Archives: SEC

Class Action Lawsuit Against Goldman Over ABACUS CDO Signals Time Is Right For Investor Lawsuits

The legal news is not good if you are a lender or investment bank who participated in the creation of mortgage-backed securities (“MBS”) and other derivatives over the last few years.  But for investors who lost their shirts through their … Continue reading

Posted in abacus, Countrywide, derivative lawsuits, Goldman Sachs, investors, litigation, MBS, SEC, securities, securities fraud, shareholder lawsuits | 3 Comments

Say It Ain’t So: SEC Charges "Shoeless" Goldman Sachs With Setting Up CDO To Fail

In a move that represents a significant and unexpected expansion in U.S. regulators’ efforts to crack down on Wall Street, the Securities and Exchange Commission (“SEC”) has charged Goldman Sachs, Wall Street’s most powerful bank, with fraud over its marketing … Continue reading

Posted in AIG, CDOs, Goldman Sachs, investors, lenders, MBIA, mortgage insurers, Paulson and Co., regulation, SEC, securities, securities fraud, Wall St. | Leave a comment

Not-So-Free Market: Group of Large Hedge Funds Expected to Sue FSA Over Short-Selling Ban

Thanks to Bryan Carter and the Tuscan Group for passing along this article on the litigation expected to arise from the U.K. regulator’s decision to ban short-selling for financial company stocks. On September 18, England’s Financial Services Authority (FSA) announced … Continue reading

Posted in FSA, hedge funds, investors, liquidity, litigation, SEC, short-selling, volatility | Leave a comment

SEC Requests Subprime Mortgage Docs from National City

From a story published in the Louisville Courier-Journal: “The Securities and Exchange Commission (SEC) has requested documents from National City Corp. relating to the sale of its former subprime mortgage unit and other matters as part of an informal probe, … Continue reading

Posted in acquisitions, banks, probes, SEC, subprime | Leave a comment