Trouble at the top
The news that Dutch civil service pension scheme ABP is suing Goldman Sachs over claims of a mis-sold collateralised debt obligation (CDO) raises questions over what counts as adequate due diligence. The €246bn fund – which has already sued Credit Suisse, Deutsche Bank and JP Morgan over the same issue – alleges in a complaint filed in New York that the bank knew the product was riskier than it let on.
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