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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Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.


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