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Goldman cuts top end of legal expenses estimate
November 3, 2015 / 12:22 PM / 2 years ago

Goldman cuts top end of legal expenses estimate

Nov 3 (Reuters) - Goldman Sachs Group Inc said on Tuesday it had lowered the top end of its estimated range for possible legal costs by about $600 million to $5.3 billion. (bit.ly/1Sl6fIt)

In August, the bank had estimated legal expenses of up to $5.9 billion above what it had already set aside.

The Wall Street bank is involved in a number of judicial, regulatory and arbitration proceedings.

Goldman, which released the latest figure in a regulatory filing, is among financial firms targeted by a federal-state working group probing misconduct in the sale of mortgage-backed securities prior to the financial crisis. (Reporting by Richa Naidu in Bengaluru; Editing by Ted Kerr)

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