Goldman Off The Hook For $5M Atty Fees In Shareholder Suits

Law360, New York (September 17, 2013, 5:21 PM ET) -- A New York state appellate court said Tuesday that Goldman Sachs Group Inc. management isn't responsible for $5 million in attorneys' fees in three dismissed shareholder suits over allegedly excessive employees' bonuses, ruling the plaintiffs' failure to submit a presuit demand was fatal to their request for reimbursement. 

The five-judge panel affirmed a lower court's 2011 ruling that the allegations made in the three consolidated derivative complaints were too weak to warrant awarding attorneys' fees. The shareholders had “no excuse” for failing to make a presuit...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers