An Australian hedge fund manager said it has filed a lawsuit against Goldman Sachs Group seeking more than $1bn in damages after losing money in troubled mortgage-linked securities. Basis Capital’s Basis Yield Alpha Fund alleges it was defrauded when it purchased $78m of the Timberwolf synthetic collateralized debt obligations (CDOs) being sold by Goldman in June 2007. The Sydney-based hedge fund manager said in the suit that Goldman knew at the time that the securities were doomed as the mortgage market began to show cracks.
Goldman being sued by hedge fund over toxic CDOs
Most Popular Articles
Latest Articles
Test post for new category functionality HW+
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nulla in quam euismod, consectetur urna vel, placerat magna. Sed gravida, nisl eget rutrum porta, libero orci tristique neque, luctus lobortis massa felis sit amet ex. Curabitur ut dapibus enim. Fusce in placerat purus, a hendrerit tortor. Sed neque lorem, tincidunt sed magna suscipit, volutpat rutrum tellus. […]
