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Spitzer: scrutinizing conflicts of interest |
Bank advisers rarely dominate coverage of a large M&A transaction as much as Goldman Sachs has by acting as financial adviser to both the New York Stock Exchange and Archipelago Holdings on their planned merger announced in April. A class action suit filed by NYSE seat-holder William Higgins attempting to block the takeover names Goldman Sachs as co-defendant, claiming the firm “manipulated the deal to its own advantage”. Former NYSE director Kenneth Langone, who could still mount a rival bid, called Goldman’s role “unseemly”.
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