A Goldman Sachs sign is seen above the floor of the New York Stock Exchange shortly after the opening bell in the Manhattan borough of New York January 24, 2014. (REUTERS/Lucas Jackson)
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Libya's sovereign wealth fund is suing banking giant Goldman Sachs for "deliberately exploiting" its position to make $350 million profit on $1 billion worth of failed derivative trades, London's High Court announced Thursday.The nine deals, totalling $1 billion, were entered into in early 2008 but turned sour during the financial crisis, according to details made available by the High Court Thursday.Despite the losses, the fund claims that the bank still walked away with profits of $350 million.
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