Shareholders Sue Goldman For Billions Over Exec Pay

Law360, New York (January 7, 2010, 7:00 PM EST) -- Shareholders filed a putative class action Thursday seeking to force executive officers and board members of Goldman Sachs Group Inc. to return billions of dollars for alleged breaches of fiduciary duty related to compensation.

The Illinois-based Central Laborers' Pension Fund filed the shareholder derivative complaint in the New York County Supreme Court, naming Goldman Sachs as a nominal defendant and chairman and CEO Lloyd Blankfein as lead defendant.

In addition to Blankfein, the suit also names Gary Cohen, John Bryan, Claes Dahback, Stephen Friedman, William George,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.