Trading Room – Australian hedge fund Basis Capital is suing Goldman Sachs, alleging the US investment banking giant forced one of its funds into insolvency by encouraging it to take up a “shitty deal”.
Basis Capital’s Yield Alpha Fund (BYAFM) is seeking damages of more than $US56 million ($A66.8 million) plus interest and punitive damages from Goldman Sachs Group Inc and three of its subsidiaries, according to documents filed with the US District Court in the Southern District of New York on Wednesday.
