SEC's Fraud Case Against Goldman Sachs Could Refuel Burst in Securities Lawsuits

There's no clear answer as to whether fraud litigation brought against Goldman Sachs by the U.S. Securities and Exchange Commission will fuel a new wave of credit crisis lawsuits.

By Susanne Sclafane | Updated on April 25, 2010

There’s no clear answer as to whether fraud litigation brought against Goldman Sachs by the U.S. Securities and Exchange Commission will fuel a new wave of credit crisis lawsuits, but insurance experts are sounding alarms about the possibility.

“We’ve all been waiting for the shoe to drop on SEC enforcement actions. We just didn’t know whose head it was going to come down on,” said Michael Young, a litigation partner with Willkie Farr & Gallagher in New York, who represents defendants in securities cases. “It looks like it’s landed on Goldman Sachs,” he added.

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