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contingent liabilities

Mar 04

2011

Companies disclose potential legal bills

Posted by Stephen Taub in legal fees, lawsuits, contingent liabilities, compliance, American Institute of Certified Public Accountants, American Bar Association, AICPA

A number of companies this week have disclosed in regulatory filings billions of dollars of potential losses from legal proceedings.

Goldman Sachs Group, for example, said it could suffer "reasonably possible" losses of $3.4 billion from legal claims against the company.

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