Lawsuit Against Goldman Gets Tossed

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Goldman Sachs Group Inc (GS) won the dismissal of a lawsuit accusing it of misleading an investor in connection with a collateralized debt obligation known as Timberwolf 2007-1, causing losses that resulted in the investor becoming insolvent.

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In a decision made public on Thursday, U.S. District Judge Barbara Jones in Manhattan said the dismissal of the lawsuit by Basis Yield Alpha Fund is without prejudice, and gave the plaintiff 30 days to file an amended complaint.