Lowey Announces $20 Million GSE Bond Settlement with Goldman Sachs

by | Nov 14, 2019 | Homepage, News | 0 comments

On November 14, 2019, Lowey and co-lead counsel Scott+Scott announced a settlement between Plaintiffs and Goldman Sachs in the consolidated class action In re GSE Bonds Antitrust Litigation, 19-cv-1704 (S.D.N.Y.).  The settlement provides for $20 million in monetary compensation for the Class in addition to Goldman Sach’s agreement to adopt certain remedial measures designed to detect and prevent anticompetitive conduct from occurring in the GSE Bond market again.

This settlement marks the third settlement achieved by Lowey and Scott+Scott on behalf of the Class and brings the total amount recovered for GSE Bond investors to almost $50 million. Judge Rakoff preliminarily approved two settlements with Deutsche Bank and First Tennessee earlier this month.  All three settlements provide for substantial cooperation, including the production of documents and witnesses, to assist Plaintiffs in prosecuting the case against remaining Defendants.

Please contact Vincent Briganti (vbriganti@lowey.com) with any questions.

You can learn more about Lowey’s antitrust practice here:  https://lowey.com/antitrust/