| Goldman Sachs Group Inc (GS) has defended itself against the allegations from the Libyan Investment Authority (LIA). Earlier this year, the Libyan Investment Authority filed a suit against Goldman Sachs, alleging that the bank had forced it to enter several equity derivative transactions worth more than $1 billion.
LIA added that these transactions were extremely risky and poorly documented by the investment bank, which sought to take advantage of the limited financial and legal expertise of LIA and its unsophisticated employees. LIA maintained that the disputed deals offered by Goldman adversely affected the trust and confidence the wealth fund had established with the investment bank...............................................Full Article: Source
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