July 27, 2010
If you have been tracking the docket for the Security Exchange Commission’s action against Goldman Sachs as I have, you received an alert recently letting you know there is a new filing (set up an alert on Westlaw -> Alert Center -> Docket Alert -> Docket Track…). The answer for the VP for Goldman Sachs, Fabrice Tourre, an original party but not a party to the settlement agreement, was filed on Monday (see the docket and answer at 1:10CV03229).
There is a lot of buzz about how Mr. Tourre will be treated after the settlement. Basically, the result may be a measuring rod for whether Goldman Sachs did the right thing in settling and how individuals may be treated in future S.E.C. actions. See the WSJ law blog article “Fabrice Tourre Not only ‘Fabulous,’ But Also a Fighter” . Also, see the court documents linked from my previous blog note.
Why “fabulous fab?” It seems this is a self-proclaimed title found in e-mails to friends during the time in which he was marketing the Amicus mortgage bonds. See articles from the past month on Westlaw here (Allnews plus wires with Reuters search) or check out the New York Times article “Goldman Employee Denies S.E.C. Fraud Accusations.”