CONFIRMED: Goldman will settle for $550 million.This looks like a huge win for Goldman.
Although Goldman will admit it included misleading information in Abacus materials, the investment bank will NOT admit to any major wrongdoing.
And — the figure is smaller than initial reports that were around $1 billion. So it comes off looking like it’s better for Goldman than the SEC. $550 million is still a big chunk of change though — the biggest settlement against a Wall Street firm in the history of the SEC.
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Check Out: The Winners And Losers From Goldman Sachs Fraud Case Settlement >
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