Goldman Shares Dip on Insider Trading Fears

Goldman Sachs’ (GS) shares dipped more than 3.5 percent in early Monday trading, the most intraday since May 18, amid investor fears the bank may be the focus of a 3-year investigation into possible insider-trading networks. According to a WSJ report, the SEC and U.S. Department of Justice are nearing the end of wide-ranging insider trading probe, which includes whether Goldman Sachs bankers divulged information about health-care acquisitions and other transactions.

The Journal notes however, that the inquiry involves several low-level Goldman employees, not executives.

Goldman shares were down $5.75, or 3.52%, at 12:25 p.m. EST, in trading on the New York Stock Exchange, outpacing many of its key rivals and SPX.

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About Ari Haruni 137 Articles
Ari Haruni is the Co-Founder & CEO of Wall Street Pit.

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