Goldman Fights Claims That Suit Sparked Bonus Cuts

Law360, New York (October 7, 2010, 6:02 PM EDT) -- Goldman Sachs Group Inc. executives and directors indicated to a Manhattan judge Thursday that they are preparing to fight a pension fund’s claims that a shareholder derivative suit prompted the investment bank to rein in bonus payouts.

Attorneys for the Central Laborers’ Pension Fund and lawyers representing Goldman Chairman and CEO Lloyd Blankfein and other executives told Judge Bernard J. Fried of the Manhattan Supreme Court on Thursday that they are at an impasse over the fund’s dismissal motion, which credits the plaintiff for inciting compensation...
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