Goldman Accused Of Intentionally Moving At 'Glacial Pace' In Lehman Holdings' Probe

(Santosh Nadgir) - Lehman Brothers Holdings Inc accused Goldman Sachs Group Inc of intentionally trying to delay providing documents related to a probe into market rumors, which may have sped up Lehman's collapse.

In court papers filed on Tuesday, Lehman said Goldman Sachs was deliberately moving at "a glacial pace" to run out the statute of limitations without producing the documents.

Lehman said its investigations had revealed that certain Goldman Sachs employees in London "may have been involved in originating or spreading rumors about Lehman."

A Goldman Sachs spokesman declined to comment on the matter.

Lehman has asked a bankruptcy court to order Goldman Sachs to hand over the documents within two weeks of a decision.

In September 2008, Lehman filed for the largest bankruptcy in U.S. history.

The case is In re Lehman Brothers Holdings Inc, U.S. Bankruptcy Court, Southern District of New York, No. 08-13555.
(Editing by Gopakumar Warrier)

Copyright 2011 Thomson Reuters. Click for Restrictions.

Comments

[avg american]

09:53 AM on 06/08/2011

I love it that all of the articles on the HP involving Henry (Hank) Paulson are dated for 5-25-2011 and closed for comments.
The new AOL ownership is looking out for their buddy, Hank Paulson.

[ControlMeNot]

11:31 PM on 06/03/2011

They can keep taking their time. Revolution is coming sooner than we all think my clever friends.

[anonymous67]

03:23 PM on 06/03/2011

Want to know why we have seen NO prosecution of the Wall Street banks? The answer is two-fold: 1) the statute of limitations is approaching and 2) the US Department of Treasury is corrupt

[olitenup]

01:44 PM on 06/03/2011

Well, find them in contempt of court and throw their arses in the slammer. I bet the requested info will miraculously appear.

[BillKen]

01:26 PM on 06/03/2011

I can't believe a company with such a 'sterling' reputation would resort to such tactics trying to evade justice, I'm shocked out of my shorts. With citizens like these corporations, we really
don't need enemies. Semper Fi

[vobox3343]

11:29 AM on 06/03/2011

Scratch my back, I'll scratch yours. It is what it is.

[laterthanyouthink]

07:46 AM on 06/03/2011

Seal Team Six

We have a cleanup on aisle 1.

[Peanut Santiago]

04:55 AM on 06/03/2011

Of course he is doing it and of course it is deliberate.

Some of those big shots better start worrying.....just a little.

The politicians are desperate because the "recession" and Main Street suffering doesn't seem to end and people are angry.
That means that if the politicians get desperate enough, they will start "sacrificing" banker and Wall Street biggies to appease the anger of the unruly citizenry (voters).

Of course most of us ordinary people who know what happened are ANGRY and want some of those b--stards in banks and on Wall Street prosecuted.
At least many of the savings and loan crooks were prosecuted and jailed.
AND the politicians KNOW we are angry!!!

[BillKen]

01:41 PM on 06/03/2011

There will be nothing happening until we raise the ante, our representatives are not seeing the necessary volatility in the situation. It's one thing to say your angry but entirely another to operationalize that anger and put the fear of god in our elected employees. Our real problem is the fact that we citizens are treated like inmates in an asylum, something to be ignored or
laughed at or both. Semper Fi

[NessEliot1932]

04:11 AM on 06/03/2011

IT IS CALLED "STONE WALLING!"

* TEAR DOWN THIS G0LDMAN WALL OF SHAME *

┬┴┬┴┬┴┬┴┬┴­┬┴┬┴┬┴┬┴┬┴┬┴┬-┴┬
┴┬┴┬┴┬┴┬┴┬­┴┬┴┬┴┬┴┬┴┬┴┬┴-┬┴
┬WALL STREET WALL OF SHAME ┬┴
┴┬┴┬┴┬┴┬┴┬­┴┬┴┬┴┬┴┬┴┬­┴┬┴┬┴
┬┴┬┴┬┴┬┴┬┴­┬┴┬┴┬┴┬┴┬┴­┬┴┬┴┬

[ColoradoCool]

03:10 AM on 06/03/2011

Of COURSE they're dragging their feet! The judge needs to hold them in contempt and make it COST them something to be uncooperative. Sociopaths aren't generally known to be cooperative in producing evidence that's going to get them convicted of fraud, inside trading, unethical behavior, etc, etc.

[laterthanyouthink]

07:20 AM on 06/03/2011

Maybe the judge is hoping for a job ....

[ZeraLee]

08:01 PM on 06/02/2011

Corporations have learned the value of delay from the Microsoft anti-trust trial. By stalling until a republican administration came to power, they were able to dodge anti-trust law in America. The Bush43 DoJ actually went so far as to change sides to protect what the court found to be "an abusive monopoly."

Conservatives have gone so far off the rails that justice itself has become a divisive issue.

[structurequity]

07:02 PM on 06/02/2011

I would say that since 2008 a new terminology should be used for Goldman's movement on answering to their responsibilities. Glacial movement in this day and age is a speedy journey, the movement exhibited by Goldman is "constipated"

[Matt12]

05:30 PM on 06/02/2011

den of thieves

[ColoradoCool]

03:11 AM on 06/03/2011

That's a insult to dens of thieves all over the world. These guys are in a class by themselves.

[abbadabba]

02:58 PM on 06/02/2011

Glaciers may be slow but they scrape the face off the earth. Goldie knows how to flip a house and bury it.

[SeanMartin]

12:28 PM on 06/02/2011

Were I, as a simple individual, to try tactics like this, I'd be cited for contempt and hauled off to jail. Funny how things work when you get high enough in the dollar digits.