How Does the Tourre Verdict Impact Goldman Sachs?

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Aug. 2 (Bloomberg) -- Bloomberg's Su Keenan examines the impact of the verdict in the trial of former Goldman Sachs vice president Fabrice Tourre will have on the company in relation to other legal claims and suits. She speaks on Bloomberg Television's "Market Makers."

Now it opens up again to encompass goldman sachs.

How much harder does this verdict make it for goldman sachs to defend itself against any number of other civil cases pending against the firm?

How much harder is not clear.

Do attorneys on the other side use this, absolutely.

It very unusual in that seventh count in which the jury found fabrice tourre was liable in aiding and abetting the violation of securities law in the abacus transaction.

You have never had a jury ruled on goldman, yet this if actively rules on goldman and raises questions about the lawsuit against goldman and the impact it could have on settlements.

The sec's settlement with goldman in 2010 was a record at the time to settle these charges.

There was no admission of wrongdoing.

The sec under mary jo white is looking at these on a case-by- case asus.

This clearly raises the bar of scrutiny.

Oldman this year confirmed that the -- goldman confirmed the lawsuit is going forward and other shareholder lawsuits have been going forward.

I spoke to an attorney specializing in the s.e.c. it says as a practical matter, the jury finding that he aided and abetted fraud exit far more difficult for goldman to dismiss any claim on a related matter.

We have spoken to one of the jurors and it seemed like people like fabulous fab.

Your number two said he was likable and -- juror number two said he was likable but some one else he was shady.

I was there on the first day of testimony went right off the bat, he had to admit an e-mail he wrote was not accurate.

This is the key question -- whether the decision was based on the merits of evidence as opposed to this notion that the jury was punishing fabulous fab 4 wall st's siddons and allegedly for goldman's since.

They said that they should have informed investors that billionaire paulson was betting that it would fail.

This is one of those stories

This text has been automatically generated. It may not be 100% accurate.


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