Goldman Scoffs At Duty To Reveal SEC's Abacus Warning

Law360
May 21, 2012

Thomas A. Dubbs comments on Goldman Sachs’ failure to disclose important information to shareholders

But he said that in Goldman’s case, the notice was so significant to investors that it required the firm to update a January 2009 SEC filing disclosing the initial investigation. That filing, which detailed Goldman’s mortgage litigation risks at the time, indicated the firm had received information requests from securities regulators specifically about its CDO business, Dubbs said. “They went through such conniptions to hide this,” Dubbs said. “That shows consciousness of guilt.”