29.06.2016 - Libyan Fund Officials Didn’t Understand Goldman Trades, Attorney Says
Libya’s sovereign-wealth fund was “astonished to learn” it hadn’t acquired any actual shares through derivatives trades arranged by Goldman Sachs Group Inc., according to a former lawyer for the fund who gave evidence in the High Court in London on Tuesday. The Libyan Investment Authority, or LIA, is suing Goldman for $1.2 billion to cover its losses from nine trades arranged in 2008. Those trades took the form of equity derivatives and expired worthless in 2011. The LIA alleges that Goldman executives exerted “undue influence” over its officials, who didn’t understand the trades..............................................Full Article: Source
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