Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Tourre’s Bid to Delay Depositions Opposed by SEC

A bid by Fabrice Tourre, the Goldman Sachs Group Inc. trader accused of misleading investors in a product linked to subprime mortgages, to delay the start of depositions in the lawsuit should be denied, regulators said.

Tourre yesterday asked a federal judge to postpone the Feb. 1 start of depositions in the lawsuit by the U.S. Securities and Exchange Commission, partly because he is awaiting documents from Dusseldorf, Germany-based IKB Deutsche Industriebank AG, a “purported ‘victim’ of the alleged fraud.” The SEC opposed Tourre’s request.

“Tourre’s highly disruptive 11th-hour request for a stay of depositions should be rejected,” the agency said yesterday in a filing in federal court in Manhattan. “This action has been pending for approximately nine months.”

The SEC sued Goldman Sachs and Tourre on April 16, accusing them of failing to tell investors that hedge fund Paulson & Co. helped pick underlying securities for a collateralized debt obligation and planned to bet against them. The SEC reached a $550 million settlement with New York-based Goldman Sachs in July. Tourre denies wrongdoing.

The case is SEC v. Goldman Sachs, 10-CV-3229, U.S. District Court, Southern District of New York (Manhattan).

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.