Three lawsuits brought against Goldman Sach's
fund are have been consolidated into one, according to the brokerage firm's quarterly SEC filing. The suits will be combined into one case that will be heard by the U.S. District Court for the Southern District of New York. The judge gave the defendants until August 28 to refile.
The suits had been brought by shareholders in the funds and claimed that Goldman Sachs charged improper fees, paid excessive brokerage commissions, made other undisclosed payments to brokers in exchange for selling shares of the mutual funds. The plaintiffs also claim that Goldman made untrue statements in the funds' registration statements and shareholder reports.
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