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24

Goldman Sachs Investors Can Proceed as Group in CDO Lawsuit

By Tony Seruga

Investors allege conflicts of interest caused stock to decline
Goldman shares fell 13 percent after SEC Sued Over CDOs

Goldman Sachs Group Inc. investors who claim they were harmed by conflicts of interest related to collateralized debt obligation transactions won permission to pursue their lawsuit as a group.

A Manhattan federal judge on Thursday granted class-action status to the shareholders, saying they met legal requirements, with numerous members and claims typical of the group.

The U.S. Securities and Exchange Commission sued Goldman Sachs in April 2010, alleging fraud tied to CDOs that contributed to the worst financial crisis since the Great Depression…

Goldman Sachs Investors Can Proceed as Group in CDO Lawsuit

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