Goldman Sachs Group and Morgan Stanley were slapped with a securities class action Tuesday in New York Southern District Court over insider trading claims. The lawsuit, brought by Scott + Scott and other law firms, accuses the defendants of improperly selling shares of Chinese streaming business Tencent Music based on confidential information in order to avoid billions of dollars in losses. Counsel have not yet appeared for the defendants. The case is 1:21-cv-08752, Merson v. Goldman Sachs Group Inc et al.
Banking & Financial Services
October 26, 2021, 7:57 PM