Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Goldman Sachs Group Inc    GS

Delayed Quote. Delayed  - 05/27 10:01:06 pm
159.53 USD   +0.61%
05/28 Chinese stock exchanges set time limit for trading suspension
05/28 Chinese stock exchanges set time limit for trading suspension
05/27DJCenterview Unit to Launch Blank-Check Company
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Goldman Sachs Group Inc : Goldman Legal Costs Could Exceed Reserves by $4 Billion

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/06/2013 | 07:45pm CEST

Goldman Sachs Group Inc. raised a closely watched measure of its legal costs by $500 million, the Wall Street firm's finance chief said Wednesday.

Speaking during a conference call with fixed-income analysts, Goldman Chief Financial Officer Harvey Schwartz said the New York firm had increased the top end of its range of "reasonably possible" legal costs to $4 billion above what it has set aside in reserves. That was up from $3.5 billion at the end of June.

"In terms of litigation, we continue to reassess our own individual cases," Mr. Schwartz said.

Goldman discloses the estimates in a quarterly regulatory filing. The new filing, Mr. Schwartz said, will come out by Thursday afternoon.

Large banks including Goldman have continued to wade through waves of litigation stemming from their actions before and during the financial crisis.

When Mr. Schwartz discussed "reasonably possible" losses, he was referring to a term that--under accounting standards--refers to events that are less than likely, yet more than remote.

Write to Justin Baer at justin.baer@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on GOLDMAN SACHS GROUP INC
01:18a GOLDMAN SACHS : There’s nothing a Brexiter loves more than a good conspira..
05/28 Chinese stock exchanges set time limit for trading suspension
05/28 Chinese stock exchanges set time limit for trading suspension
05/27DJCenterview Unit to Launch Blank-Check Company
05/27DJBank of America Revives Sale of Credit-Card Issuer MBNA
05/27DJLendingClub Talking With Citigroup About Loan Purchases
05/27 GOLDMAN SACHS GROUP INC : ex-dividend day
05/26DJGOLDMAN SACHS : to Stop Rating Employees With Numbers
05/26 MOMENTA PHARMACEUTICALS : to Webcast Presentation at the Goldman Sachs 37th Annu..
05/26DJGOLDMAN SACHS : Dumps Employee-Ranking System
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials