June 13, 2016
Libya Wants To Sue Goldman Sachs For $1.2 Billion
Now that Libya has mostly succeeded in kicking ISIS to the curb, the government is going after a new enemy: big banks. Libya’s national investment fund is seeking damages from Goldman Sachs, claiming that the bank encouraged them to make complex, money-losing investments back in 2008. The trial began on Monday at the High Court in London and is scheduled to run for the next seven weeks, so get the popcorn ready. The Libyan Investment Authority is hoping to win back the $1.2 billion it says was lost through nine disputed trades.
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