Judge approves Goldman Sachs settlement with SEC

NEW YORK (BestGrowthStock) – A judge approved a $550 million settlement between Goldman Sachs and the Securities and Exchange Commission over civil fraud allegations in a subprime mortgage product, according to a court document filed on Tuesday.

Manhattan federal court Judge Barbara Jones signed the agreement, which was announced by the U.S. market regulator last Thursday. The SEC sued the bank in April.

The case is SEC v Goldman Sachs et al, U.S. District Court for the Southern District of New York, No. 10-3229.

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(Reporting by Grant McCool; Editing by Gary Hill)

Judge approves Goldman Sachs settlement with SEC