purchase of an 18% stake in state-owned DONG Energy (now Ørsted A/S) – Denmark's largest electric utility – set off a "political crisis" in Denmark. The sale – approved on January 30, 2014 – sparked protest in the form of the resignation of six cabinet ministers and the withdrawal of a party (Socialist People's Party) from Prime Minister Helle Thorning-Schmidt's leftist governing coalition. According to Bloomberg Businessweek, "the role of Goldman in the deal struck a nerve with the Danish public, which is still suffering from the after-effects of the global financial crisis". Protesters in Copenhagen gathered around a banner "with a drawing of a vampire squid – the description of Goldman used by Matt Taibbi in Rolling Stone in 2009". Opponents expressed concern that Goldman would have some say in DONG's management, and that Goldman planned to manage its investment through "subsidiaries in Luxembourg, the Cayman Islands, and Delaware, which made Danes suspicious that the bank would shift earnings to tax havens". Goldman purchased the 18% stake in 2014 for 8 billion kroner and sold just over a 6% stake in 2017 for 6.5 billion kroner. Libya investment losses (2013) In January 2014, the Libyan Investment Authority (LIA) filed a lawsuit against Goldman for $1 billion after the firm lost 98% of the $1.3 billion the LIA invested with Goldman in 2007. Goldman made more than $1 billion in derivatives trades with the LIA funds, which lost almost all their value but earned Goldman $350 million in profit. In court documents the firm has admitted to having used small gifts, occasional travel and an internship in order to gain access to Libya's sovereign wealth fund. In August 2014, Goldman dropped a bid to end the suit in a London court. In October 2016, after trial, the court entered a judgment in Goldman Sachs's favor. Improper securities lending practices In January 2016, Goldman Sachs agreed to pay $15 million after it was found that a team of Goldman employees, between 2008 and 2013, "granted locates" by arranging to borrow securities to settle short sales without adequate review. However, U.S. regulation for short selling requires brokerages to enter an agreement to borrow securities on behalf of customers or to have "reasonable grounds" for believing that it can borrow the security before entering contracts to complete the sale. Additionally, Goldman Sachs gave "incomplete and unclear" responses to information requests from SEC compliance