Goldman Outrage Heralds Shareholder Activism On Pay

Law360, New York (November 20, 2009, 6:49 PM EST) -- Outcry from Goldman Sachs Group Inc.'s shareholders over the company's proposed record-setting bonus payments this year highlights a growing trend of shareholders trying to assert control over executive pay in the wake of the financial crisis and bailout, according to securities attorneys.

The Wall Street Journal reported Friday that some of Goldman's largest shareholders are demanding that the investment bank reduce its bonus pool. Goldman is currently planning to make the biggest employee payout in its 140-year history, according to the Journal.

Because Goldman has paid...
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