Key Testimony May Hinder SEC’s Goldman Sachs Suit
On Wednesday, a day after Goldman Sachs stock took a dip as the SEC's lawsuit against the financial giant loomed large, The Wall Street Journal suggested that Goldman could catch a break in the case (continued) .
On Wednesday, a day after Goldman Sachs stock took a dip as the SEC’s lawsuit against the financial giant loomed large, The Wall Street Journal suggested that Goldman could catch a break in the case with the help of a former key player from the hedge fund at the heart of the deal that set off the SEC’s alarms. –KA
Strong Journalism, Rooted in TruthThe Wall Street Journal:
Testimony from Paolo Pellegrini, a former top executive at hedge-fund Paulson & Co., could weaken the government’s lawsuit against Goldman Sachs Group Inc.
Mr. Pellegrini told investigators from the Securities and Exchange Commission that he had informed ACA Management LLC that his firm was betting against a transaction that is now at the center of the lawsuit, according to a person familiar with the matter.
The testimony, in late 2008, could be harmful to the government’s case against Goldman, which is accused of misleading ACA, the deal manager, about Paulson’s bearish position on the deal.
Truthdig remains committed to deep reporting that challenges power and brings hidden stories to the surface.
Support independent journalism.
Economic Justice
Millions of Americans who have ACA health plans are facing soaring premiums in 2026, without help from the enhanced subsidies that Congress failed to renew.
Health & Wellness
More than 3 million adults would be at immediate risk of losing coverage if Republicans reverse the expansion of federal Medicaid funding.
Health & Wellness
While 40,000 Dreamers are likely to gain coverage, nearly half a million undocumented immigrants still cannot afford health insurance.
Health & Wellness
Eighteen million Americans could soon lose access to Medicaid.
The people of Mumbra fear that the government is threatening their independence and their identity.
Its decision on an appeal of a lower-court ruling declaring part of the statute unconstitutional is unlikely to come before the election.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.