‘Orwellian’ Goldman Loses Bid to Dismiss Suit Over CDO Deals – Deal Journal – WSJ

‘Orwellian’ Goldman Loses Bid to Dismiss Suit Over CDO Deals – Deal Journal – WSJ.

nader nazemi

Goldman Sachs

Some you win and some you lose, but in case of Goldman Sachs you win a lot.

Goldman Sachs lost a bid to dismiss a shareholder lawsuit alleging it made material misstatements in its own securities filings about its conflicts of interest in several complex securities transactions, including the now-infamous Abacus 2007 deal.

Goldman’s arguments are “Orwellian,” the judge wrote in the opinion. “Words such as ‘honesty,’ ‘integrity,’ and ‘fair dealing’ apparently do not mean what they say; they do not set standards; they are mere shibboleths.” 

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