Del. High Court Scraps Investor Suit Over Goldman Pay

Law360, New York (May 4, 2012, 5:18 PM EDT) -- The Delaware Supreme Court on Thursday affirmed the dismissal of a derivative suit alleging Goldman Sachs Group Inc.'s board of directors shortchanged the company's shareholders by approving a plan to award employees excessive compensation.

In a two-page order, the state high court said the issues raised on appeal “are controlled by settled Delaware law, which was properly applied.”

The suit — lodged by shareholder Southeastern Pennsylvania Transportation Authority in 2010 — claimed the investment bank's directors should be held liable for approving a performance-based compensation plan...
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