USD/PHP (PHP=X)
| Previous Close | 57.2900 |
| Open | 57.2500 |
| Bid | 57.4760 |
| Day's Range | 57.2500 - 57.6540 |
| 52 Week Range | 48.0100 - 57.6540 |
| Ask | 57.4960 |
ReutersUS court rules no class action on Goldman Sachs crisis-era claims
(Reuters) -Goldman Sachs shareholders cannot go forward with a class action alleging the bank misled investors about its business practices ahead of the subprime mortgage crisis, a U.S. appeals court ruled on Thursday. The New York-based 2nd U.S. Circuit Court of Appeals ruled in three pension funds' long-running case accusing the bank of unlawfully hiding conflicts of interest when creating risky subprime securities, costing investors more than $13 billion. The court said that the bank's statements about its ability to prevent conflicts of interest were not closely linked to Goldman being fined by U.S. authorities in 2010 over marketing materials for a subprime investment product, and therefore did not affect the stock price.
- Reuters
UPDATE 3-US court rules no class action on Goldman Sachs crisis-era claims
Goldman Sachs shareholders cannot go forward with a class action alleging the bank misled investors about its business practices ahead of the subprime mortgage crisis, a U.S. appeals court ruled on Thursday. The New York-based 2nd U.S. Circuit Court of Appeals ruled in three pension funds' long-running case accusing the bank of unlawfully hiding conflicts of interest when creating risky subprime securities, costing investors more than $13 billion. The court said that the bank's statements about its ability to prevent conflicts of interest were not closely linked to Goldman being fined by U.S. authorities in 2010 over marketing materials for a subprime investment product, and therefore did not affect the stock price.
Motley FoolGoldman Sachs' Profit Plunge Confirms a Woeful Consumer Strategy
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