 Image from a quicklink (Image by Unknown Owner) Details DMCA | Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of misleading investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender. U.S. District Judge Harold Baer in Manhattan certified a class-action lawsuit by investors in the GSAMP Trust 2006-S2, a $698 million offering of certificates based on a pool of second-lien home mortgages. The underlying loans were made by New Century Financial Corp, a subprime mortgage specialist that went bankrupt in 2007. |
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