Published on April 17, 2012 | by LawNews
Prof. Ronald Colombo Discusses Trading-Tip Favoritism Allegations Against Goldman Sachs Group
Ronald J. Colombo, a professor at Hofstra Law, suggested that Goldman didn’t actual break the law and only decided to settle because it was already reeling from a series of recent bruises to its reputation. He said that the firm was essentially just sharing its opinion early with a select group of people.
“I don’t think they’ve done anything legally wrong. They’re playing favorites and that’s not nice. That’s life,” Colombo said. “But I don’t think Goldman’s in the mood to fight.”
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