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The U.S. Securities and Exchange Commission has reached a 550 million U.S. dollar settlement with Goldman Sachs, in a case accusing the company of misleading its investors.
Of the settlement, 250 million U.S. dollars will be paid to investors who lost their money. The penalty is the largest ever levied by SEC against a Wall Street firm. The settlement came on the same day that the U.S. Senate passed the most sweeping restrictions on banks and Wall Street since the Great Depression.
The SEC and Goldman Sachs have been in talks since April, when the lawsuit was launched.