Goldman Sachs (GS -3%) shares turn red after federal regulators file a lawsuit accusing the firm...

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

Goldman Sachs (GS -3%) shares turn red after federal regulators file a lawsuit accusing the firm of violating federal and state securities laws in the sale of $1.2B in mortgage-backed securities. The suit seeks damages of $491M for securities Goldman sold to credit unions that the government claims were “destined to perform poorly.”