Judge Approves Goldman’s Toxic Mortgage Settlement
A federal judge just gave the green light to Goldman Sachs' $272M settlement with pension fund investors who say the bank misled them about the safety of billions of dollars of mortgage-backed securities it sold them before the 2008 crisis.
US District Judge Loretta Preska in Manhattan allowed the settlement to proceed, saying it’s fair, adequate and reasonable, despite Goldman denying wrongdoing, Bloomberg reports. In fact, Goldman claimed it acted properly at all times.
This settlement is among the last of many investor class actions brought against banks in connection with the 2008 crisis. [Bloomberg]