Tuesday, 21 October 2014
Last updated 38 min ago
Aug 19 2010 | 1:35pm ET
Two shareholder lawsuits against Goldman Sachs in New York State court are now officially one.
New York State Supreme Court Justice Richard Lowe combined the two derivative lawsuits against Goldman and some of the firm’s executives, including CEO Lloyd Blankfein. The two Goldman investors accuse the firm of breaching its fiduciary duties over a collateralized debt obligation, ABACUS-AC-1, allegedly structured and marketed on behalf of hedge fund Paulson & Co.
Goldman last month settled Securities and Exchange Commission fraud charges related to the CDO for $550 million, but that hasn’t been the end of its legal troubles. Goldman is currently battling 15 lawsuits in Manhattan federal court and one in Delaware Chancery Court, as well as the two merged in New York state court.
Lowe also agreed to delay the cases to give both sides a chance to work out a settlement and to allow time for the other lawsuits to make progress.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...