Thursday, 21 August 2014
Last updated 7 hours ago
Apr 26 2010 | 3:41pm ET
He and his firm are all over the Securities and Exchange Commission lawsuit accusing Goldman Sachs of fraud, but neither John Paulson nor his firm have been charged with any wrongdoing. If that changes, however, one thing Paulson & Co. investors won’t have to worry about are legal bills.
The New York-based hedge fund, which manages $32 billion, has pledged to cover any legal fees stemming from the collateralized debt obligation at the heart of the Goldman case. The Wall Street giant is accused of misleading investors about Paulson’s role in choosing the securities that went into the CDO, as well as its bet against the CDO.
In a letter to investors on Wednesday, Paulson expressed confidence that the firm won’t be hit with “legitimate causes of action.” But he said they are prepared nonetheless.
“We do operate in a litigious environment, and there are no guarantees that we will not be named in an action,” he wrote.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note