Bloomberg News

Goldman Sachs Faces $387 Million Lawsuit, Telegraph Says

July 06, 2012

Goldman Sachs (GS:US) Group Inc.’s asset management arm is facing a 313 million euro ($387 million) lawsuit over its handling of a Dutch pension fund at the height of the financial crisis, the Daily Telegraph reported, without saying where it obtained the information.

Pensioenfonds Vervoer, which has assets of 7 billion euros, is suing the bank over the way the unit managed the pension funds. The writ could be filed as early as today in London’s High Court, according to the Telegraph. An unidentified spokesman for Goldman’s asset management arm said the lawsuit would be contested because any claim would be without merit, the newspaper said.

To contact the reporter on this story: Maria Tadeo in London at mtadeo@bloomberg.net

To contact the editors responsible for this story: Chris Peterson at cpeterson@bloomberg.net; Douglas Lytle at dlytle@bloomberg.net


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