Goldman scales back estimate of legal costs

(Reuters) - Goldman Sachs Group Inc has scaled back its estimate of the legal costs it may face, beyond what it has set aside, by more than half to $2 billion. The Wall Street bank, which ranked No. 1 in advising on both announced and completed mergers and acquisitions globally in 2015, is involved in a number of judicial, regulatory and arbitration proceedings. Goldman is among several financial firms targeted by a federal-state working group investigating misconduct in the sale of mortgage-bac