Burg Simpson Exposes Wall Street's Culture of Collusion

DENVER, April 21 /PRNewswire/ -- Michael S. Burg continues to be at the national forefront of securities litigation arising out of the 2007 sub-prime mortgage market collapse. News of the SEC's decision to charge Goldman Sachs with over $1 billion in securities fraud last Friday came as no surprise to Mr. Burg, who has actively been pursuing justice for individual and institutional victims of alleged Collateralized Debt Obligation ("CDO") fraud since 2008.

"I applaud the SEC for bringing a Civil Action against Goldman Sachs. Finally, the American public is about to discover the true extent of the collusion between the investment banks, banks and rating agencies and the extent to which they went in their attempts to defraud the American people." Mr. Burg continues, "Burg Simpson is actively seeking justice for individuals, institutions and pension funds who were knowingly sold 'toxic' investments and made victims of this conspiracy. I am proud of the instrumental role Burg Simpson is playing in helping to bring this issue to the nation's attention. The documentary evidence including the damning E-mails we have uncovered in cases on which we are working, continues to make interesting reading for all those involved. It has certainly been the subject of interest from both the SEC, Justice Department and Congress."

Burg Simpson is currently claiming damages on behalf of Pursuit Partners, LLC against UBS for fraud in connection with its purchase of collateralized debt obligations (CDOs). See, Pursuit Partners, LLC et al. v. UBS AG, et al. On September 8, 2009, the Connecticut Superior Court entered an order requiring two UBS entities to put aside more than $35 million to ensure that Burg Simpson's client is adequately compensated should the plaintiff's claim be successful. The case and saga continues.

SOURCE Burg Simpson Eldredge Hersh & Jardine, P.C.