Goldman Sachs and its lawyers can’t seem to catch a break in their defense against high-profile claims that the investment bank systematically discriminated against female professional employees.
Former Baker & McKenzie chair Christine Lagarde is the world’s 39th most powerful person, according to a Forbes list. Lagarde, who is now managing director of the International Monetary Fund, is ranked ahead of former President Bill Clinton and the CEOs of Amazon, Goldman Sachs and JPMorgan.
Goldman Sachs has been sued in New York state court on behalf of an Australian hedge fund that alleges Goldman misled it into investing more than $67 million in collateralized debt obligations it knew were faulty, including one that a Goldman higher-up famously called “a sack of shit” in an internal email.
Rajat K. Gupta pleaded not guilty Wednesday to passing inside information he learned as a board member at Goldman Sachs and Procter & Gamble to Raj Rajaratnam, the Galleon Group hedge fund founder and convicted insider trader.
The Delaware Court of Chancery has dismissed a case that claimed Goldman Sachs breached its fiduciary duty to shareholders through a compensation structure that encouraged employees to take undue risks.