Gasparino Says Goldman Settlement Likely To Be Between $1-$5 Billion (GS)
Symbols: GS
Fox Business News' Charlie Gasparino is reporting that Goldman Sachs (NYSE: GS) will likely settle the civil fraud case brought against the firm by the SEC for between $1 billion and $5 billion.
Goldman (GS) has been accused of misleading clients with regard to a synthetic CDO that the firm structured at the behest of hedge fund Paulson & Co. and subsequently sold to a German bank. Paulson took the short side of the trade.
During today's trading session, GS shares have fallen 0.30% to $147.80. In the last month, the stock has lost over 14% as a result of the SEC fraud charges.
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