Thursday, 27 April 2017
Last updated 21 min 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.