Goldman Execs At Fault For Billions In TARP Losses: Suit

Law360, New York (September 21, 2011, 9:24 PM EDT) -- Members of the Goldman Sachs Group Inc. board and executive committee were hit with a derivative shareholder suit Tuesday over their allegedly negligent management of government bailout funds, which the suit claims caused reputational and financial damages worth billions of dollars.

In its complaint filed in New York federal court, the Retirement and Relief System of the City of Birmingham, Ala., alleges that Goldman’s directors failed in their duties to shareholders by mismanaging the roughly $10 billion in funds the investment bank received under the Troubled...
To view the full article, register now.




Case Information

Case Title

Retirement & Relief System Of The City Of Birmingham, Alabama v. Blankfein et al

Case Number



New York Southern

Nature of Suit

Stockholders Suits


William H. Pauley, III

Date Filed

September 18, 2011


Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.