Posts Tagged Wells Notice
Goldman Sachs fined $650,000 for not disclosing Wells Notices
Posted by Cory in In the News on November 9, 2010
This is how Wall Street rewards the illegal activities of it’s own: Goldman Sachs was fined $650,000 for not disclosing two Wells Notices served upon two if it’s representatives, one of which was Fabrice Tourre.
A Wells Notice is a letter that the U.S. Securities and Exchange Commission (SEC) sends to people or firms when it is planning to bring an enforcement action against them.
Wall Street reacted to the announcement by rewarding Goldman Sachs with a $0.13 raise in their stock.
Clipped from: www.marketwatch.com (share this clip)
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- Goldman Sachs’ Fabrice Tourre Strikes Again (blogs.wsj.com)
- Goldman Fined $650,000 for Disclosure Lapse (abcnews.go.com)
- Goldman fined $650,000 for disclosure lapse (sfgate.com)