shareholders cannot go forward with a class action alleging the bank misled investors about its business practices ahead of the subprime mortgage crisis, a U.S. appeals court ruled on Thursday.
A spokesperson for the bank and attorneys for the investors did not immediately reply to requests for comment. The case stemmed from Goldman's sale of collateralized debt obligations including Abacus 2007 AC-1, which it assembled with help from hedge fund manager John Paulson.
Source: News Formal (newsformal.com)
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