Goldman Pay Suit Could Signal New Wave Of Litigation

By James Armstrong

Law360, New York (January 08, 2010, 6:36 PM ET) -- In the wake of a pension fund suing Goldman Sachs Group Inc. to recoup billions of dollars in executive compensation, many observers are wondering if the revolt against Goldman could be a harbinger of things to come.

The Illinois-based Central Laborers' Pension Fund filed its shareholder derivative complaint against Goldman on Thursday in the New York County Supreme Court, accusing the company's board and executive officers of breaching their fiduciary duties in awarding record compensation for 2009.

Goldman is an extreme case, since the company hands...
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