P.O. (Reuters) United Natural Foods sues Goldman Sachs, Bank of America over acquisition advice

P.O.

The “Vampires of Wall Street”…
You are not telling me that they did something less proper…
Oh…
What about that small misuse of the Malaysia Sovereign Wealth Fund…?
…Between 5 and 10 billion USD…
Oh…
Please be so kind and revisit
my P.O. V.V.I. (FT) 1MDB scandal: the Malaysian fraud explained:

V.V.I.

The “Vampires of Wall Street” (nickname for Goldman Sachs) at it again…
One of the greatest finantial frauds in history…
USD 4.5 billion allegedly misappropriated from the Malasian State Investment fund.
The incredible number of transfers, and their complexity were designed to make it very difficult to trace the origin of the funds. (US Departement of Justice).
I sincerely hope (but i doubt it will happen) that with this scandal the “vampires” will be stopped for good.
Video not to be missed.

Francisco (Abouaf) de Curiel Marques Pereira



(Reuters) Grocery distributing company United Natural Foods Inc filed a lawsuit on Tuesday against Goldman Sachs Group Inc and Bank of America Merrill Lynch claiming the investment banks put their financial interests ahead of the company’s when they advised it on a multi-billion acquisition last year.

United Natural Foods announced plans to acquire distributor Supervalu in July 2018 in a deal valued at $2.9 billion, according to a joint statement on United’s website.

United claims in the lawsuit, which was filed in New York state court, that Goldman Sachs committed breach of contract and fraud, and that the firm improperly extracted around $200 million for the advisory and financing services it gave United.

Goldman Sachs spokeswoman Nicole Sharp wrote in an emailed statement that the bank believes the claims have no merit, and the bank plans to “vigorously defend ourselves against these accusations.”

Bank of America spokesman Bill Halldin declined to comment.