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,...
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