Goldman Sued Over Abacus Deal, Again


This time by ACA.

ACA Financial’s lawsuit, filed in the Commercial Division of the Supreme Court of the State of New York, alleges fraud and unjust enrichment in the matter. Goldman “developed and sold on behalf of its hedge-fund client Paulson & Co. in 2007.” ACA said it was misled by Goldman’s “fraudulent” activities and is seeking $30 million in compensation and $90 million in punitive damages.

Obviously no biggie, as this kind of thing happens to Goldman all time. In much more serious news, has anyone heard from Fab lately? Lloyd's worried.

[via MarketWatch]


Goldman Faces Suit Over Timberwolf Deal

Now, Goldman Sachs may have to deal with another lawsuit from a bunch of blokes at an Australian hedge fund. Goldman has been tussling behind the scenes with lawyers from the firm, called the Basis Yield Alpha Fund, over a $100 million slice of the Goldman-sponsored Timberwolf CDO that the Aussies bought right before the shit hit the fan.