{"id":34073,"date":"2023-05-04T14:17:24","date_gmt":"2023-05-04T14:17:24","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/goldman-sachs-named-as\/"},"modified":"2023-05-04T14:19:33","modified_gmt":"2023-05-04T14:19:33","slug":"goldman-sachs-cooperating-with","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/goldman-sachs-cooperating-with\/","title":{"rendered":"Goldman Sachs cooperating with government probes on SVB collapse"},"content":{"rendered":"<p>(Reuters) -Goldman Sachs Group Inc  said in a filing on Thursday it is cooperating with government probes into collapsed Silicon Valley Bank.<\/p>\n<p>The Wall Street bank is &#8220;cooperating with and providing information to various governmental bodies in connection with their investigations and inquiries&#8221; into SVB, including the two companies&#8217; dealings in March.<\/p>\n<p>Goldman was involved in key events before SVB&#8217;s downfall in that month. The Wall Street bank acquired a bond portfolio on which SVB booked a $1.8 billion loss, a transaction that preceded a failed SVB share sale where Goldman was an underwriter. <\/p>\n<p>Goldman was also among the underwriters named as defendants in a securities class action lawsuit related to several SVB share offerings in 2021 and 2022, it said in a regulatory filing.  <\/p>\n<p>The plaintiffs allege offer documents contained material misstatements and omissions, Goldman said in the filing. The plaintiffs seek unspecified damages in the lawsuit, which was filed on April 7 in the U.S. District Court for the Northern District of California.<\/p>\n<p>On March 17, SVB Financial Group filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets, days after its former unit Silicon Valley Bank was taken over by U.S. regulators.<\/p>\n<p>Financial stocks have lost billions of dollars in value after the collapses of SVB and Signature Bank, which saw nervous depositors flee to larger &#8216;too-big-to-fail&#8217; institutions. <\/p>\n<p> (Reporting by Manya Saini in Bengaluru and Saeed Azhar in New York; Editing by Krishna Chandra Eluri and Andrea Ricci)<\/p>\n<p><a href=\"https:\/\/lynettelockhart.com\/client\/goldman-sachs-named-as\/file-photo-a-view-of-the-goldman-sachs-stall-on\/\"><img decoding=\"async\" src=\"https:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430G1-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ430G1-VIEWIMAGE\"><\/a><\/p>\n<p><a href=\"https:\/\/lynettelockhart.com\/client\/goldman-sachs-named-as\/silicon-valley-bank-branch-in-santa-clara-ca-2\/\"><img decoding=\"async\" src=\"https:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430FZ-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ430FZ-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -Goldman Sachs Group Inc said in a filing on Thursday it is cooperating with government probes into collapsed Silicon Valley Bank. The Wall Street bank is &#8220;cooperating with and providing information to various governmental bodies in connection with their investigations and inquiries&#8221; into SVB, including the two companies&#8217; dealings in March. Goldman was involved [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":34074,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-34073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430G1-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=34073"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34073\/revisions"}],"predecessor-version":[{"id":34330,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34073\/revisions\/34330"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/34074"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=34073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=34073"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=34073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}