Team Fab denies and resents the characterization.
A federal court judge in Manhattan denied a summary judgment motion by Fabrice Tourre, a former trader at Goldman Sachs Group who faces trial on civil fraud allegations later this summer. The trial is scheduled to begin in six weeks, according to Tuesday's opinion by District Judge Katherine B. Forrest of the U.S. District Court for the Southern District of New York...In her opinion on Tuesday, Judge Forrest outlined the allegations against him. "The SEC essentially argues that Tourre handed Little Red Riding Hood an invitation to grandmother's house while concealing the fact that it was written by the Big Bad Wolf." Mr. Tourre denies that characterization and says "the alleged victims were not be-hooded children, but rather large financial institutions, operating in a dog-eat-dog world," the judge's opinion said.