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Stock Market & Financial Investment News

News Breaks
December 19, 2012
06:55 EDTSCGLYSociete Generale loses U.K. suit against former banker, Reuters reports
The U.K. Supreme Court ruled that Societe Generale (SCGLY) fired Belgian banker Raphael Geys, its former managing director for European fixed income sales, without proper notice in 2007 and that he was entitled to extra bonus payments. The lawsuit could cost the bank up to $26M, reports Reuters. Reference Link
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August 19, 2014
06:34 EDTSCGLYGoldman abandons effort to toss out $1B Gaddafi suit, Telegraph says
Goldman Sachs (GS) abandoned its effort to toss out a London court suit from the Libyan Investment Authority who alleged that the bank lost over $1B worth of funds during the final years of Muammar Gaddafi's reign as dictator, according to the Telegraph, citing comments from the LIA. The LIA sued both Goldman and Societe Generale (SCGLY) over claims that the banks' London divisions took-in exorbitant fees while losing money in derivative trades. Reference Link

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