NEW YORK — A New York state appeals court dismissed a lawsuit brought by insurer ACA Financial Guaranty Corp. against Goldman Sachs over an investment that went bad.
In a ruling issued Tuesday, the appeals court granted Goldman's motion to dismiss the case, reversing a lower court decision.
ACA sued Goldman in January 2011, seeking $30 million in compensatory and $90 million in punitive damages in connection with a portfolio of securities called Abacus.
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