{"id":61825,"date":"2018-01-16T01:22:27","date_gmt":"2018-01-16T06:22:27","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=61825"},"modified":"2018-01-16T01:22:27","modified_gmt":"2018-01-16T06:22:27","slug":"goldman-thwarts-fraud-class-action-tied-to-abacus-cdo-u-s-appeals-court","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2018\/goldman-thwarts-fraud-class-action-tied-to-abacus-cdo-u-s-appeals-court.html","title":{"rendered":"Goldman Thwarts Fraud Class Action Tied to Abacus CDO: U.S. Appeals Court"},"content":{"rendered":"<p>\n(Reuters) A U.S. appeals court said a shareholder lawsuit accusing Goldman Sachs Group Inc of fraudulently claiming to put client interests before its own when creating risky subprime securities before the financial crisis, including a collateralized debt obligation known as Abacus, cannot proceed as a class action.The 2nd U.S. Circuit Court of Appeals in Manhattan said on Friday a lower court judge imposed too high a burden on the Wall Street bank to show that its alleged conflicts of interest and misleading statements had no impact on its stock price.     While the 3-0 decision permits shareholders to again seek class certification, it may now be easier for Goldman to convince U.S. District Judge Paul Crotty, who had certified a class action in September 2015, not to let the plaintiffs sue as a group.<\/p>\n<p><a href=\"https:\/\/www.reuters.com\/article\/us-goldman-sachs-classaction\/goldman-thwarts-fraud-class-action-tied-to-abacus-cdo-u-s-appeals-court-idUSKBN1F12BH\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) A U.S. appeals court said a shareholder lawsuit accusing Goldman Sachs Group Inc of fraudulently claiming to put client interests before its own when creating risky subprime securities before the financial crisis, including a collateralized debt obligation known as [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-61825","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/61825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=61825"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/61825\/revisions"}],"predecessor-version":[{"id":61826,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/61825\/revisions\/61826"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=61825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=61825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=61825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}