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GS Goldman Sachs Group Inc

426.95
0.24 (0.06%)
After Hours
Last Updated: 23:25:07
Delayed by 15 minutes
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 Raises Legal-Loss Range

03/08/2015 12:40pm

Dow Jones News


Goldman Sachs (NYSE:GS)
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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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