basis yield alpha fund v goldman sachs complaint
Post on 10-Apr-2015
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Goldman is being sued for securities fraud by an Australian hedge fund, which claims that it was sold $81 million of toxic subprime mortgage securities. Basis claims this led to the collapse of the Basis Yield Alpha Fund. Basis Yield Alpha Fund claims that Goldman engaged in a series of fraudulent and deceitful acts or practices" and "put profits before integrity," according to its complaint filed in Manhattan federal court. The complaint states that the fund is seeking to recover more than $1 billion in total damages.
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