A U.S. judge on Friday dismissed seven lawsuits by investors who accused Goldman Sachs Group Inc and Morgan Stanley of market manipulation and insider trading before the collapse of Bill Hwang's $36 billion Archegos Capital Management LP.
of market manipulation and insider trading before the collapse of Bill Hwang's $36 billion Archegos Capital Management LP.
left them with huge losses, while enabling Goldman and Morgan Stanley to avoid billions of dollars of their own losses. He also found no proof that Goldman and Morgan Stanley breached any duty to shareholders of the seven companies by virtue of having traded after Archegos gave them material nonpublic information about its financial distress.
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