Goldman and Libya SWF headed to trial

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

Goldman Sachs (GS) withdrew its summary judgement application after looking over the Libya Investment Authority's reply evidence (according to the LIA), and the two are headed to trial over the fund's claim Goldman improperly led it into more than $1B in equity trades which expired worthless. Goldman reaped a profit of about $350M on the trades, according to the suit.

Next up is a case management hearing scheduled for early October.