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Libyan Investment Authority Didn’t Understand What Goldman Sachs Was Selling It

In the High Court in London on Tuesday, a former lawyer for the Libyan Investment Authority testified that the country’s sovereign-wealth fund was “astonished to learn” it hadn’t bought any actual shares through nine equity derivatives trades arranged by Goldman Sachs in 2008 that expired, worthless, three years later. The LIA is suing Goldman for $1.8 billion in losses.

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via Gawker


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