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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Goldman Sachs Group Inc | NYSE:GS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.24 | 0.06% | 426.95 | 433.43 | 425.19 | 426.69 | 2,310,156 | 23:25:07 |
Goldman Sachs Group Inc. raised the top end of its range of "reasonably possible" legal expenses to about $5.9 billion, the Wall Street firm said Monday in a regulatory filing.
The estimate, which tracks potential losses above what already was set aside in reserves, was at about $3.8 billion in May.
In the same filing, Goldman said it was in talks with U.S. and state authorities to resolve claims stemming from the firm's sales of mortgage bonds headed into the financial crisis.
"A resolution," the firm wrote in the filing, "may result in significant penalties and other costs."
Goldman had set aside $1.45 billion during the second quarter in legal provisions to account for the potential settlement.
Many of Goldman's peers, including Morgan Stanley, have struck multibillion-dollar agreements to settle similar claims.
Write to Justin Baer at justin.baer@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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