Goldman Sachs Wins Dismissal of Abacus CDO Suit on Appeal
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Goldman Sachs Group Inc. defeated bond insurer ACA Financial Guaranty Corp.’s fraud lawsuit over a collateralized debt obligation known as Abacus that led to a $550 million settlement with regulators.
A New York state appeals court in Manhattan today ordered the complaint against the bank dismissed, overturning a lower-court ruling that allowed the case to proceed.