Goldman Denies Conflict In $5B Amerigroup-WellPoint Deal

Law360, Wilmington (August 28, 2012, 8:52 PM EDT) -- Goldman Sachs & Co. on Monday denied the allegation that its advice to Amerigroup Corp. on the health insurer's $4.9 billion merger with WellPoint Inc. was tainted by a conflict of interest, saying a shareholder suit mischaracterizes the derivative deal allegedly behind the conflict.

On Aug. 16, two pension fund shareholders hit Amerigroup's board and Goldman with a class action in Delaware Chancery Court claiming the defendants snubbed other potential buyers in favor of WellPoint to suit their own interests. Goldman, Amerigroup's financial adviser, allegedly stood...
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