SEC v Goldman Sachs and the New Wave of (Asset-Backed) Securities Litigation: What are the Arguments? What is at Stake? Articles uri icon

publication date

  • July 2010

start page

  • 413

end page

  • 420

issue

  • 4

volume

  • 4

international standard serial number (ISSN)

  • 1752-1440

electronic international standard serial number (EISSN)

  • 1752-1459

abstract

  • In the wake of the financial crisis a new wave of litigation looms. This paper presents an "aloof" analysis of legal arguments involved in securitisation cases. First, it identifies the relevant facts. Second,
    it focuses on key legal liability elements for fraudulent/negligent
    statements in securitisation litigation. In so doing, it identifies the
    aspects where public debate and legal argument differ, and where they
    concur; and it takes a broad view on the implications of tipping the
    balance one way or the other. It is concluded that the current wave of
    litigation has consequences for the long-term future of the financial
    industry.