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Court Dismisses MBS Counts Against Goldman Sachs & Co.

The U.S. District Court for the Central District of California on Thursday, March 14, 2013, tentatively dismissed seven of the National Credit Union Administration's (NCUA) eight claims against Goldman Sachs & Co. related to the sales of mortgage-backed securities to corporate credit unions because they were not filed prior to the expiration of the statute of limitations. The case, which seeks $491 million from the Wall Street investment bank, was not filed until after NCUA placed the corporates into conservatorship, and NCUA argues the limitations period should be tolled until this date. The full order is expected to be released on Tuesday, according to the court.