Financial Services
Goldman Faces New MBS Lawsuit
Stock quotes in this article:GS
NEW YORK (TheStreet) -- Goldman Sachs(GS) is being sued by the National Credit Union Administration for alleged violation of federal and state securities laws in the sale of $1.2 billion in mortgage-backed securities, Bloomberg reported Tuesday.
The lawsuit alleges that the securities sold to two failed corporate credit unions were designed to perform poorly. The NCUA is seeking $491 million in damages from Goldman Sachs, according to the report. Shares of Goldman were down 3.2% at $113.90. Goldman Sachs declined comment. --Written by Shanthi Bharatwaj in New York >To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: tips@thestreet.com.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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| 12,454.83 | 1,317.82 | 2,837.53 | 17.45 |
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