Goldman Drops on Report That Blankfein Hired Defense Lawyer
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Goldman Sachs Group Inc., 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.