Stephen LendmanActivist Post
On August 1, Goldman's Farbice ("Fabulous Fab") Tourre was convicted on six of seven counts.
They involve "making materially misleading statements and omissions in connection with a synthetic collateralized debt obligation (CDO) GS&Co structured and marketed to investors."
They're about being "directly or indirectly engaged in transactions, acts, practices, and a course of business that violated Section 17(a) of the Securities Act of 1933, 15 USC 77q(a) ("the Securities Act") and Exchange Act Rule 10b-5, 17 CFT 240.10b-5."
"The Commission (sought) injunctive relief, disgorgement of profits, prejudgment interest, civil penalties, and other appropriate and necessary equitable relief from both defendants."
The verdict came down as follows:
