FINRA Arbitrators Order Goldman Sachs Pay $100 Million

Posted on May 19th, 2015 at 11:22 AM
FINRA Arbitrators Order Goldman Sachs Pay $100 Million

From the Desk of Jim Eccleston at Eccleston Law LLC:

Goldman Sachs has been ordered to pay $100 million, plus interest, to the National Australia Bank (NAB) for violating industry practices related to the sale of mortgage-linked securities. 

According to FINRA, NAB brought a $230 million arbitration claim in December 2012 relating to a mortgage-related deal that presented a significant conflict of interest between Goldman Sachs and clients such as NAB. 

The award comes several years after Goldman Sachs paid $550 million to settle SEC allegations that it misled investors in the sale of another collateralized-debt obligation.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Eccleston Law, James Eccleston, Goldman Sachs, National Australia Bank,

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