Goldman Sachs Group Inc. won dismissal of a lawsuit brought by Landesbank Baden-Wuerttemberg over losses on $37 million in collateralized debt obligations. U.S. District Judge William Pauley III in Manhattan ruled today that the bank didn’t sufficiently back up its claims against Goldman Sachs, which underwrote Davis Square, a CDO collateralized by residential mortgage-backed securities in 2006, and against Los Angeles-based TCW Asset Management Co., which manages collateral for asset-backed securities.
Goldman Sachs wins dismissal of lawsuit over CDO loss
Most Popular Articles
Latest Articles
Freddie Mac’s proposed home equity product could unlock $850B in originations
Bank of America strategists also say that the absence of a robust securitization market could limit the potential of these second-lien loans
-
Brian Icenhower on impact of commission lawsuits and low volume
-
Opinion: If you’re chasing volume, you’re chasing the wrong carrot
-
Why are existing home prices rising when sales are still so low?
-
FundingShield’s Ike Suri on the limits of AI in fighting fraud
-
Former academy resumes role as Funding Longevity Task Force