NEW YORK, June 23, 2010 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP (www.pomerantzlaw.com) ("Pomerantz") is filing a class action lawsuit in the United States District Court, Southern District of New York, against The Goldman Sachs Group, Inc. ("Goldman" or the "Company") (NYSE:GS) and certain of its top officers and directors. The class action was filed on behalf of persons who purchased or otherwise acquired Goldman notes and/or bonds. The Complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act and Rule 10b-5 promulgated thereunder. Currently, class action complaints have been filed in federal court in New York with the longest operative Class Period of December 14, 2006 and June 9, 2010.
The Complaint alleges that throughout the Class Period, Defendants issued materially false and misleading statements regarding Goldman's business model and reasons for Goldman's business success during the Class Period. Goldman also failed to disclose its receipt of a Wells notice from the SEC in July 2009 indicating that charges against the Company were probable. As a result of Defendants' false statements, Goldman's securities traded at artificially inflated prices during the Class Period. After revelations of Defendants' fraud, the price of the Company's securities declined significantly from its Class Period high.
If you are a shareholder who purchased the securities of Goldman during the Class Period, you have until June 25, 2010 to ask the Court to appoint you as lead plaintiff for the class. Shareholders outside the United States may join the action, regardless of where they live or which exchange was used to purchase the securities. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Nicola Brown at (NBrown@pomlaw.com) or 888.476.6529 (or 888.4-POMLAW), toll free. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
The Pomerantz Firm, with offices in New York, Chicago, Washington, D.C., Columbus, Ohio and Burlingame, California, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. More than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members.