The Appellate Division, First Department, cleared the way Tuesday for a $120 million suit charging Goldman Sachs and hedge fund giant Paulson & Co. with fraud in connection with the 2008 mortgage meltdown.
The unanimous panel held that ACA Financial Guaranty had “adequately pleaded all of the requisite elements comprising a fraud claim.” ACA’s losses had derived from a guarantee it issued to one of Goldman’s mortgage-backed bond funds.
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