Goldman to Seek Early Dismissal of LIA Suit

Bloomberg reports that Goldman Sachs will seek to have the $1-billion lawsuit by the Libyan Investment Authority (LIA) thrown out before trial.

GS will ask a the judge to decide whether the case has a realistic chance of success and issue a so-called summary judgment.

The LIA claims that Goldman made about $350 million selling investments that turned out to be worthless. The sovereign wealth fund said it considers the application to be "misconceived" and looks forward to full and proper determination of all issues by the court.

(Source: Bloomberg)

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