NEW YORK (Reuters) - Paulson & Co asked a judge to dismiss a lawsuit accusing the firm of conspiring with Goldman Sachs Group Inc to get a bond insurer to guarantee payments on an investment allegedly designed to fail.
In a filing in New York on Monday, Paulson said it “made no misrepresentations” to ACA Financial Guaranty about the collateralized debt obligation known as Abacus.
ACA brought the $120 million complaint against Goldman in 2011 and amended its lawsuit in January, adding Paulson & Co and its hedge fund, Paulson Credit Opportunities Master II Ltd, as defendants.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
