TAILIEUCHUNG - complaint vs goldman sachs

Tham khảo sách 'complaint vs goldman sachs', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK --------------------------------------------X Basis Yield Alpha Fund Master 10 Civ. Walker House 87 Mary Street ECF Case Georgetown Grand Cayman Cayman Islands KYI-9002 British West Indies Plaintiff COMPLAINT JURY TRIAL DEMANDED -against- Goldman Sachs Group Inc. 85 Broad Street New York NY 10004 Goldman Sachs Co. 85 Broad Street New York NY 10004 Goldman Sachs International 85 Broad Street New York NY 10004 Goldman Sachs JBWere Pty. Ltd 1 New York Plaza New York NY 10004 Defendants. ---------------------------------------------- X Basis Yield Alpha Fund Master BYAFM through its attorneys Baach Robinson Lewis PLLC as and for its Complaint alleges The Genesis of Timberwolf - one shitty deal 1. BYAFM brings this securities fraud action against Goldman Sachs Company and affiliated companies Goldman for making materially misleading statements and omissions in connection with the sale of AA-rated securities at a price of approximately million and the sale of AAA-rated securities at a price of approximately million from a collateralized debt obligation CDO known as Timberwolf 2007-1 Timberwolf . Only two weeks after BYAFM purchased its investment in Timberwolf the securities precipitously declined in value leading to five margin calls over a two week period. As a result of BYAFM s purchase of the Timberwolf securities and Goldman s subsequent margin calls BYAFM lost more than 50 million. These losses forced BYAFM into insolvency. 2. By no later than December 2006 Goldman at its highest levels decided that the value of securities based upon subprime residential home mortgages would likely go into sharp decline and that Goldman could profit by various means of shorting these securities or at the very least that Goldman should be an aggressive seller of such securities so that Goldman would be in a position to repurchase the securities when they drastically declined in price. 3. For example on December 15

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