Goldman Sachs has been done a pretty good job convincing courts that it knows a real vice president when it sees one, at least in terms of whether it has to pay their legal bills for (allegedly!) screwing the bank the over. But the process of getting to yes in court is such a pain in the ass: After all, it took three years to get the legal OK to stiff Sergey Aleynikov, and in the meantime it had to front him the money.
Lloyd Blankfein & Co. don’t want to go down that road with Joseph Jiampietro, the former MD accused of leaning on his former underling to get some good inside dirt from that former underling’s former employer, which happened to be the New York Fed. Especially given that Jiampietro’s got a stronger case for being a real former executive than Aleynikov did. Luckily, Goldman’s got an idea that could save us all a lot of time and reach the conclusion it wants.
Goldman Sachs Group Inc filed a lawsuit on Thursday seeking to force a former managing director to arbitrate his claim for legal fees stemming from probes into his alleged use of confidential Federal Reserve documents….
Adam Ford, a lawyer for Jiampietro, in a statement called Thursday's lawsuit "a classic example of inappropriate forum shopping" by Goldman Sachs to delay advancing his client's defense fees.