Sunday, 25 January 2015
Last updated 1 day ago
Feb 4 2011 | 2:11am ET
Fabrice Tourre, the Goldman Sachs executive being sued over his role in a controversial collateralized debt obligation, is casting a wide net for evidence in his defense.
In December, he subpoenaed Fox News, court documents show. It is unclear what information Tourre is seeking from the conservative news network.
Tourre has been accused by the Securities and Exchange Commission of misleading investors in a collateralized debt obligation allegedly structured and marketed on behalf of hedge fund Paulson & Co. Goldman was also sued, but settled the charges for $550 million.
Depositions in the case began this week.
This week, Tourre's lawyers also sought permission to issue some seemingly more relevant subpoenas, including to ACA Financial Guaranty, the largest investor in the CDO in question.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…