Goldman Reportedly in Talks With SEC

Lawyers for Goldman Sachs met with the Securities and Exchange Commission to perhaps settle the fraud suit brought against the firm, a report says.
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NEW YORK (

TheStreet

) --

Goldman Sachs

(GS) - Get Report

took the first step in perhaps settling a fraud lawsuit brought against the firm by the

Securities and Exchange Commission

when its lawyers met with the SEC this week, a report says.

The two sides remain far apart, the

Wall Street Journal

reports. The preliminary settlement talks, which were held Tuesday, between Goldman co-general counsel Gregory Palm and other lawyers and SEC officials didn't include any specific settlement terms, such as the amount of a fine or agreements Goldman could make with the SEC, people familiar with the situation told the newspaper.

Goldman has maintained that the

fraud suit

, filed April 16, is groundless.

Word of the settlement talks come ahead of the firm's shareholder meeting Friday.

TheStreet

will be

blogging the event live

on its Web site beginning shortly before the meeting begins at 9:30 a.m. EDT.

Several important proposals at the Goldman meeting are set for a vote, many of which are about executive compensation.

Fox Business News

first reported that settlement talks between the SEC and Goldman were imminent.

-- Written by Joseph Woelfel in New York.

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