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Goldman Sachs Group Inc (NYSE: GS) Investor Securities Class Action Lawsuit 04/26/2010

  • If you purchased shares of Goldman Sachs Group Inc (NYSE: GS), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Goldman Sachs
Security
NYSE: GS

Case Name
Goldman Sachs Shareholder Class Action 04/26/2010
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

February 2, 2018 - The U.S. Court of Appeals for the Second Circuit ordered, adjudged and decreed that the order of the district court is vacated and the case is remanded for further proceedings consistent with this Court's opinion.
January 28, 2016 - The lead plaintiffs filed a notice of appeal.

June 21, 2012 - The court granted in part and denied in part the defendants' motion to dismiss.

October 6, 2011 - The defendants filed a motion to dismiss.

July 25, 2011 - The lead plaintiffs filed an amended consolidated complaint.

March 25, 2011 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.

July 9, 2010 - An additional lead plaintiff motion was filed.

June 25, 2010 - Lead plaintiff motions were filed.

April 26, 2010 - An investor in shares of Goldman Sachs Group Inc (NYSE: GS) has filed a lawsuit in the U.S. District Court for the Southern District of New York against Goldman Sachs Group Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made regarding between October 15, 2009 and April 16, 2010.

According to the complaint the plaintiff alleges that Goldman Sachs Group Inc and certain of its officers and executives violated the Securities Exchange Act of 1934 by failing to disclose between October 15, 2009 and April 16, 2010, material adverse facts about its true financial condition, business and prospects. Goldman Sachs Group Inc reported in 2007 Total Revenue of $87.968 billion, on November 28, 2008 for the past 12 months $53.579 billion, and in 2009 $51.673 billion.

After the market opened on April 16, 2010, it was revealed that Goldman Sachs Group’s U.S. broker-dealer, Goldman, Sachs, and Company, had been sued by the SEC “for making materially misleading statements and omissions in connection” with ABACUS 2007-AC1. As news of Goldman Sachs Group’s misconduct reached the market, Goldman Sachs Group stock (GS) declined $24.05 per share from $184.27 per share on April 15, 2010 to close at $160.70 per share on April 16, 2010, so the lawsuit, Shares of Goldman Sachs Group, Inc. traded recently at $153.27 per share, down from its 52 week High of $193.60 per share, over $200 per share in 2008, and over $235 per share in 2007.

The Goldman Sachs Group Inc, located in New York, is a bank holding and a global investment banking, securities and investment management company.
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