April 16, 2010

Goldman Sachs is Charged with Subprime Fraud by the SEC

April 16, 2010 - The Wallstreet Journal - reported today that Goldman Sachs Group Inc. has been charged by the Securities and Exchange Commission for subprime fraud. The SEC alleges that Goldman Sachs defrauded investors in CDOs or Collateralized Debt Obligations it marketed via their Abicus fund by failing to inform them that a hedge fund which was seeking to bet against many such investments, participated in choosing many of the CDO's within the Abicus fund that Goldman marketing to investors.

It has been reported that Citigroup, UBS Bank of America, JP Morgan Chase, Wachovia, Deutsche Bank AG and Credit Agricole SA have sold CDO funds to investors.  The Law offices of Stuart D. Meissner LLC is investigating cases involving the Goldman Sachs matter and other matters involving the sale of CDO funds by other major banks and investment firms to  both individuals and institutional investors including pension funds. (Goldman Sachs is Charged With Subprime Fraud by the SEC, April 16, 2010 Related to Abicus Fund)

Call the Meissner firm at 212-764-3100 if you or you firm may have been impacted by this matter.