Goldman Sachs sued over expected bonuses

Filed under: Goldman Sachs Group (GS)

The Security Police and Fire Professionals of America Retirement Fund has filed a lawsuit with the New York Supreme Court, naming Goldman Sachs Group, Inc. (NYSE: GS), CEO Lloyd Blankfein, and the company's board of directors as defendants.

The company's crime? Planning to pay $22 billion in bonuses "for corporate performance that has absolutely nothing to do with the skill of the company's employees." Goldman spokesman Lucas van Praag told Reuters that the lawsuit is without merit.

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Goldman Sachs sued over expected bonuses originally appeared on BloggingStocks on Tue, 15 Dec 2009 17:40:00 EST. Please see our terms for use of feeds.

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