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Goldman, Not Yet Officially Served by SEC on Fraud Charges, Ramps Up Settlement Talks

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WE'LL MAKE THEM AN OFFER THEY CAN'T REFUSE
"Attorneys for Goldman Sachs (GS: 140.79, -2.598, -1.81%) have ramped up efforts to settle civil fraud charges over whether the firm misled investors who bought a package of toxic mortgage debt from the big Wall Street firm after the Securities and Exchange Commission decided not to officially “serve” Goldman the complaint, a move some legal experts say could show a willingness by the SEC to settle the case as well, FOX Business has learned. By not officially serving Goldman, the SEC has given the firm an additional 60 days (instead of 30) to file either a motion to dismiss or answer the complaint with its defense of the charges. Those charges allege that the firm committed securities fraud by not alerting investors who purchased a pool of collateralized debt obligations during the early stages of the financial crisis that a prominent short seller had both helped create the CDO, and then bet against it."

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