Lawsuit filed against Goldman Sachs & Co. alleging investors’ deception

Lawsuit filed against Goldman Sachs & Co. alleging investors’ deceptionAccording to the media reports, a lawsuit against Goldman Sachs & Co. was filed in federal court in New York Monday, alleging the financial giant deceived investors about its financial health.

CNN has reported that Robbins Geller Rudman and Dowd, the law firm that won $7.2 billion in a suit against energy trader Enron, seeks class-action status for its case. The firm said it is suing on behalf of Howard Sorkin, Ilene Richman and "all other similarly situated" investors.

It was further reported that the lawsuit names Chief Executive Officer Lloyd Blankfein, Chief Financial Officer David Viniar and President Gary Cohn among the defendants.

The suit alleges Goldman Sachs caused investors to buy its stock at artificially inflated prices, knowing the U. S. Securities and Exchange Commission was investigating allegations the bank sold mortgage-backed securities secretly designed to fail.

The report also revealed that the lawsuit seeks to represent investors who bought shares between Oct. 15, 2009, and April 16 of this year. Those dates bookend are, when Goldman Sachs announced its 2009 third-quarter results and when the SEC brought fraud charges against the bank.

A spokesman for Goldman Sachs didn't immediately return a message seeking comment, CNN further reported.

Suits also were filed last week by investors Robert Rosinek and Morton Spiegel. (With Inputs from Agencies)