Everything Still Might Be Securities Fraud

We talked in February about a securities-fraud lawsuit against Goldman Sachs Group Inc. that was going all the way to the Supreme Court. The issue is that, before the 2008 global financial crisis, Goldman had gone around saying things like “our clients’ interests always come first” and “integrity and honesty are at the heart of our business.” Then the global financial crisis occurred, and:

Why did the stock price go down? Well, I mean, there was a global financial crisis. That was bad, for earnings and such. Also, though, Goldman got in (legal, political, public-relations) trouble for some of the specific instances in which its clients’ interests arguably came second; for instance, famously, it paid a big fine for doing some bad stuff with a mortgage security called Abacus.