Goldman Sachs asked a federal judge to throw out a suit by an investor who claimed he lost $15 million because the company failed to tell him that it had an internal ban on doing business with Bernard Madoff and that he should pull his money out. The company, which has denied having such a ban, says it owed no fiduciary duty because the investor wasn't a client. And even if there were merit to the claim, the statute of limitations ran out almost three years ago, Goldman Sachs said in a dismissal motion.
May 05, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Goldman Sachs asked a federal judge on Tuesday to throw out a suit by an investor who claimed he lost $15 million because the company failed to tell him that it had an internal ban on doing business with Bernard Madoff and that he should pull his money out.
The company, which has denied having such a ban, says it owed no fiduciary duty because the investor wasn’t a client.
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