NEW YORK (AP) -- Goldman Sachs's CEO and other top officers have been sued by a pair of shareholders for lax oversight of deals involving risky mortage-backed securities that later went bad.
The lawsuits filed Thursday in New York State Supreme Court name Chairman Lloyd Blankfein and the firm's entire board of directors as defendants.
The suits follow civil fraud charges filed last week by the Securities and Exchange Commission over the same investments.
The SEC says Goldman committed fraud by failing to disclose important information about the securities that might have scared off investors.
The two suits, filed by shareholders Robert Rosinek and Morton Spiegel, accuse Blankfein and other officers of "systematic failure" over 3 1/2 years for not properly vetting 23 mortgage-linked deals at the center of the SEC suit. Those deals, called Abacus, led to $1 billion in losses.
。。。。。。
