Goldman Sachs: We’re Facing $15.8B In Lawsuits

Goldman Sachs: We're Facing $15.8B In Lawsuits Goldman Sachs Group Inc. has announced in its quarterly 10-Q filing that it is facing more than $15.8 billion in lawsuits relating to its mortgage-backed bond deals.

According to a Reuters report, the New York-based company's estimate is a 30-fold increase from the $485 million figure it cited three months ago in its previous quarterly filing. The company has named three additional European financial institutions – HSH Nordbank, Norges Bank Investment Management and IKB Deutsche Industriebank AG – to the list of companies that may pursue litigation.

Goldman Sachs' management estimates that it was ‘reasonably possible’ that the company could lose up to $2.6 billion if these legal threats go to court.


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