Goldman Drops on Report Blankfein Hired Lawyer
Goldman Sachs Group Inc. (GS), the fifth- biggest U.S. bank by assets, fell 4.7 percent after Reuters reported that Chief Executive Officer Lloyd Blankfein hired defense lawyer Reid Weingarten.
The shares fell $5.25 to $106.51 at 4:15 p.m. in New York Stock Exchange composite trading. Reuters, citing an unidentified government official, didn’t specify when or why Blankfein hired Weingarten, a Steptoe & Johnson LLP partner whose clients included former WorldCom Inc. CEO Bernard Ebbers.
Blankfein hasn’t been charged with wrongdoing amid federal probes of Wall Street’s role in the housing boom and credit crisis. Weingarten and David Wells, a spokesman for New York- based Goldman Sachs, didn’t immediately respond to e-mail and phone messages seeking comment on the report.
To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net
Goldman Sachs Group Inc. CEO Lloyd C. Blankfein
Spencer Platt/Getty Images
Goldman Sachs Group Inc. Chairman and CEO Lloyd C. Blankfein.
Goldman Sachs Group Inc. Chairman and CEO Lloyd C. Blankfein. Photographer: Spencer Platt/Getty Images
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