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Goldman: AIG, Allstate, Fannie, Others Threatened Mortgage Lawsuits--Filing

By Liz Moyer Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Goldman Sachs Group Inc. (GS) said Tuesday in its quarterly regulatory filing that Allstate Corp. (ALL), John Hancock and American International Group Inc. (AIG) are among the investors that have threatened to sue for claims related to mortgage-related offerings. Others include Fannie Mae (FNMA), Freddie Mac (FMCC), the National Credit Union Administration and the Federal Housing Finance Agency, the investment bank said in a securities filing on Tuesday. Goldman has already been facing claims from companies and investors that lost money from mortgage-related securities. It lowered its loss estimate for those plaintiffs to $485 million as of the end of June, from $514 million at the end of March. That lower figure is included in Goldman's estimate of $2 billion in "reasonably possible" losses beyond its reserves also disclosed in the filing. In the filing, Goldman said Allstate, AIG and the other entities have threatened to assert claims against it, and it has entered agreements with some of them to continue to negotiate. -By Liz Moyer, Dow Jones Newswires; 212-416-2512; liz.moyer@dowjones.com

Stock News for Manulife (MFC)
DateTimeHeadline
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