Goldman named in Fannie Mae litigation

Goldman Sachs has been named as a defendant in the lawsuit filed against giant US mortgage provider Fannie Mae for its alleged role in arranging bonds, backed by mortgage-backed securities, which violated US law.

In a filing with the US Securities and Exchange Commission the bank said: "Goldman Sachs has been added as a defendant in amended complaints filed on August 14 2006 and September 1 2006, respectively, in a purported class action and a separate shareholder derivative action pending in the US District Court for the District of Columbia, which generally arise from allegations concerning Fannie Mae's accounting practices."

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