Judge Sides With Goldman Sachs In Pay Suits

Law360, New York (September 26, 2011, 8:26 PM EDT) -- A New York state judge ruled Monday that allegations that Goldman Sachs Group Inc. management hurt the company by paying out too much of its revenues as employee compensation were too weak to justify reimbursing the shareholders' attorneys.

Although shareholders alleged that Goldman Sachs had essentially admitted the allegations when its board decided to change the compensation policy, Judge Bernard Fried said their attorneys couldn't collect attorneys' fees because the complaint was too vague to begin with.

"Although plaintiffs have clearly set forth the reasons for...
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