Goldman Sachs Group Inc. hid from the South Korean Heungkuk Life Insurance Co. that it had bet against the viability of a collateralized debt obligation the bank sold as safe, according to a lawsuit filed in New York.
The insurer seeks more than $47.3 million in damages from the New York-based banking firm according to its 56-page complaint accusing Goldman Sachs of fraud and negligent misrepresentation.
