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Why is Goldman Sachs stalling on a request from the SEC? Goldman Sachs Group Inc. will have longer to respond to the high-profile lawsuit by the Securities and Exchange Commission over disclosures regarding a collateralized debt obligation tied to subprime mortgages, a judge ruled.

Apparently the CDO in question was one that caught the eye of hedge fund Paulson & Co. If you remember, Paulson made a huge profit betting against portfolios we all knew would fail. What did Goldman Sachs know?

The SEC has alleged that Goldman didn’t tell investors in a collateralized debt obligation that hedge fund Paulson & Co. helped select the underlying portfolio of mortgages backing the financial product and had bet against its performance.

U.S. District Judge Barbara Jones signed off on an extension until July 19 for Goldman Sachs, an investment bank, to answer the SEC’s allegations. The deadline to respond had been June 21st, but the SEC agreed last week to give Goldman more timeto answer the complaint.