Sullivan & Cromwell and Allen & Overy (A&O) are taking key advisory roles after the US Securities and Exchange Commission (SEC) on Friday (16 April) filed a civil suit accusing Goldman Sachs of securities fraud. The suit, which claims Goldman created and sold a collateralised debt obligation (CDO) secretly designed to fail, is the first action by taken by regulators against those that capitalised on the collapse of the US housing market.
April 19, 2010 at 05:03 AM
1 minute read
The original version of this story was published on Legalweek
Sullivan & Cromwell and Allen & Overy (A&O) are taking key advisory roles after the US Securities and Exchange Commission (SEC) on Friday (16 April) filed a civil suit accusing Goldman Sachs of securities fraud.
The suit, which claims Goldman created and sold a collateralised debt obligation (CDO) secretly designed to fail, is the first action taken by regulators against those that capitalised on the collapse of the US housing market.
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