Judge rules Goldman must face lawsuit over mortgage securities

A proposed class action by a Detroit pension fund accusing Goldman Sachs of misleading investors about mortgage-backed securities can go forward, a federal judge has ruled.

Filed in 2010 by Detroit’s police and fire retirement system, the lawsuit accused Goldman of misrepresenting the standards used to qualify borrowers for mortgage loans that were pooled into securities and bought by the fund.

via Judge rules Goldman must face lawsuit over mortgage securities | Reuters.

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