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Fund Sues Goldman Sachs Over Bonuses

Cop, firefighter pension group seeks to halt $22B payout

By Rob Quinn,  Newser Staff

Posted Dec 15, 2009 5:03 AM CST

(Newser) – A pension fund investor is taking Goldman Sachs to court over bonuses it says has nothing to do with employee merit. The suit filed by the Security Police and Fire Professionals of America Retirement Fund accuses the company of preparing to "blindly" hand out $22 billion in bonuses, Reuters reports. A Goldman spokesman says the suit, filed in New York's Supreme Court, is "completely without merit."

People protesting banking policies march down Broad Street from the New York Stock Exchange toward the Goldman Sachs headquarters building in New York City.
People protesting banking policies march down Broad Street from the New York Stock Exchange toward the Goldman Sachs headquarters building in New York City.   (Getty Images)
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COMMENTS
Showing 2 of 2 comments
Scrub
Dec 15, 2009 11:20 AM CST
Yep, would have made more in the last 12 years with your money in a CD/Money Market fund paying 4% annually instead of the market.
Mia
Dec 15, 2009 5:26 AM CST
The financial arena has become a huge buddy club all about making those in it rich. Fuck them...I have closed all my bank accounts.

 
executive compensation • Goldman Sachs • lawsuit • Lloyd Blankfein • investor • executive bonuses • Goldman bonuses

 
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