Liberty sues ‘reckless’ Goldman Sachs
US insurer Liberty Mutual has accused Goldman Sachs of
"recklessly disregarding" mortgage giant Fannie Mae's
true financial condition and significantly overstating the value of
investments in the firm.
In 2007, Liberty invested $62.5mn in two stock offerings issued by
Fannie Mae and underwritten by Goldman Sachs - investments that it
now claims are "virtually worthless".
In its 8 July filing in the US District Court of Massachusetts,
Liberty claims that Goldman Sachs made "materially misleading
statements and omissions" in connection...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
