Home -> Law Blog Directory -> Criminal Law Blogs -> SECLaw.com

Criminal Law

: SECLaw.com

Goldman's Defense to SEC Fraud Case

By Mark H. Astarita, Esq.

The WSJ has copies of Goldman's Wells Submission and its Wells Supplement on line. While the Wells Submission is not Goldman's answer to the complaint, it does offer insight into Goldman's defense of the SEC's claims. (See my article on Wells Notices at SECLaw.com for more background information).The most interesting part of the submission is the claim that everyone in the transaction knew the facts that the SEC claims were misrepresented or omitted:There was nothing unusual or remarkable about the transaction or the portfolio of assets it referenced. Like countless similar transactions during that period, the synthetic portfolio consisted of dozens of Baa2-rated subprime residential mortgage-backed securities (?RMBS?) issued in 2006 and early 2007 that were identified in the offering materials (the ?Reference Portfolio?)...continue to full post

Full post as published by SECLaw.com on April 25, 2010 (boomark / email).