By Dakin Campbell, Bloomberg News
Goldman Sachs Group Inc. lowered its estimation of possible legal losses in excess of reserves in the second quarter, even as the firm was named in a series of lawsuits.
Legal costs may climb to $1.5 billion more than the bank had currently set aside at the end of June, less than the $1.8 billion estimated at the end of March, according to the New York-based company’s quarterly regulatory filing Friday.
JPMorgan Chase & Co. and Citigroup Inc. also reported drops in their legal loss estimates in filings this week.
Goldman Sachs said it was ...
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