2nd Circ. Revives Goldman Pay Disclosure Suit

Law360, New York (December 19, 2011, 8:33 PM EST) -- The Second Circuit on Monday revived a shareholder suit accusing Goldman Sachs Group Inc. CEO Lloyd Blankfein of failing to properly disclose his compensation, saying the suit shouldn't have been dismissed.

A three-judge panel said a New York federal court erroneously determined that the suit lodged by investor Jeffrey Bader was barred by collateral estoppel as being too similar to an earlier lawsuit that was dismissed.

Bader claims Blankfein and other Goldman directors lied about their earnings in proxy statements, using accounting trickery to hide the...
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