Goldman Sachs 'seeking SEC extension'

14 July 2010

Troubled US investment bank Goldman Sachs is set to ask for an extension to the current deadline for its response to a fraud lawsuit instigated by the Securities and Exchange Commission (SEC), according to a report.

An article in the New York Post claimed this week that the crisis-hit institution could claim it has not had sufficient time to prepare a defence for the case due to other "pressing issues" it has had to deal with in the meantime.

The firm has already had the deadline pushed back once from its original date and the newspaper asserted that sources close to Goldman believe it will seek to set a new limit of 30 days from July 19th 2010.

Yesterday (July 13th 2010), Reuters cited a story in Brazilian publication Valor Economico, which suggested Goldman could face investigation from police over its role in the 2004 takeover of pulp company Ripasa by Sulano Celulose.

By Asim Shah

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