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Goldman cuts top end of legal expenses estimate
November 3, 2015 / 3:53 PM / 2 years ago

Goldman cuts top end of legal expenses estimate

(Reuters) - Goldman Sachs Group Inc (GS.N) 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)

The Goldman Sachs logo is displayed on a post above the floor of the New York Stock Exchange, September 11, 2013. REUTERS/Lucas Jackson/Files

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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