Huffington Post:
BREAKING: CNBC has reported that the Securities and Exchange Commission has reached a settlement agreement with Goldman Sachs. The news was relayed via CNBC's Twitter feed. The reported settlement comes on the heels of Congress's passage of a sweeping financial reform bill earlier today.
The New York Times' Dealbook reports that the settlement totals $550 million. The bank will reportedly admit no wrongdoing.
Still, the bank's stock surged today rising 4.43 percent as rumors swirled about a settlement. With a cost of roughly $550 million (plus millions legal fees), Goldman Sachs likely came out ahead for the day, as the stock surge added hundreds of millions to the bank's market cap.
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