Mr. Stone represents securities and immigration clients nationally an employment and family law clients in New York, including New Rochelle, White Plains, Larchmont, Scarsdale, Bronxville, Pelham, Mount Vernon, Harrison, Purchase, theBronx, Manhattan, Queens, Brooklyn, and Connecticut.
Toll Free: 866-720-3754
Phone: 914-636-2648
Fax: 914-636-2528
Email: 30 Church Street, Suite 2A
New Rochelle, New York 10801
PRACTICE AREAS
CONTACT DOUG STONE
In order to help you more quickly, please fill out the quick form and submit or call 914.636.2648. A representative of the firm will call you ASAP.
Name: *
Email: *
Phone:
Message:
*Required fields
Goldman Sachs May Settle Sec Fraud Case
The New York Post reported on April 29, 2010 that Goldman Sachs may soon settle fraud charges brought by the Securities and Exchange Commission in order to avoid further damage to the firm’s reputation from government hearings after eleven hours of grilling by members of the Senate Subcommittee on Permanent Investigations on April 27. It is understood that the SEC has a large supply of e-mails and records that would damage Goldman’s reputation if publicized.
The SEC accused Goldman Sachs of securities fraud in a suit filed on April 16, 2010. The SEC claims Goldman created and sold to investors an investment that was secretly designed to fail. This is the first time regulators acted against a Wall Street deal that was pitched to investors to capitalize on the collapse of the housing market. The SEC says Goldman made money by betting against the same mortgage investments that it sold to its customers. The suit also names Goldman’s employee Fabrice Tourre who helped create and sell the investment, which was called Abacus 2007-AC1.
The SEC charges that Goldman Sachs created and sold a Collateralized Debt Obligation (CDO) that depended on the performance of subprime residential mortgage-backed securities. Goldman failed to disclose to investors crucial information including that a major hedge fund picked the portfolio and took a short position in it. The SEC alleges that investors lost $1 billion. The SEC charges Goldman Sachs and Fabrice Tourre with violating Section 17(a) of the Securities Act of 193, Section 10(b) of the Securities and Exchange Act of 1934, and Exchange Act Rule 10b-5.
If you believe you have been the victim of securities fraud, you can contact New York securities fraud attorney Douglas Stone by phone at 866 720-3754 or by e-mail at dstone@dougstonelaw.com.
Attorney Douglas Stone has successfully handled securities litigation, securities fraud, broker fraud, immigration, naturalization, visas, green card, employment and divorce
cases in New Rochelle, Westchester, White Plains, Yonkers, Bronx, Brooklyn, Manhattan, Queens, Rockland County, Long Island and Fairfield County.
Attorney Advertising. Hiring of a lawyer is an important decision that should not be based soley upon advertisements. Before you decide, ask us to send you free information about our qualifications and experience. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
Copyright 2011: The Law Offices of Douglas Stone. Securities Fraud Attorney. All Rights Reserved.
30 Church Street, Suite 2A, New Rochelle, New York 10801
866-720-3754 | dstone@dougstonelaw.com
