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
Fund Sues Goldman Sachs Over Bonuses
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)

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."
(More Goldman Sachs stories.)

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