Goldman Sachs Analysts Influenced by Banking Interests
In violation of NASD
and NYSE regulations, analysts at Goldman Sachs were encouraged
to participate in investment banking activities and were compensated
with raises and bonuses. The SEC's
complaint against Goldman Sachs includes reports that certain
analysts were "known to be swayed by banking to support certain
During meetings with potential investment banking clients, known
as "pitches," firm representatives implicitly suggested
that Goldman Sachs would provide favorable research coverage after
the investment banking transaction.
One analyst had doubts about ratings on AT&T's stock, but
wrote in an email that "investment banking considerations
prevented [him] from making a change" in his recommendations.
Read the full
SEC complaint against Goldman Sachs.
If you have purchased
shares in any of the following stocks from Goldman Sachs, you
may have a potential stock fraud claim. Contact
the Consumer Justice Group immediately for an evaluation of
The Investment & Stock Fraud News is a service of the Consumer Justice Group.