Goldman sued by former banker over legal fees

Email Simon Stratford

Goldman Sachs was sued by a former executive who claims the bank failed to pay at least $350,000 in legal fees he racked up while defending himself in a government investigation into stolen Federal Reserve documents that wound up in his e-mail in-box.

Bloomberg News reports that Joseph Jiampietro, a onetime managing director at the company’s investment banking division, was fired in 2014 for failing to tell his superiors that an associate who used to work at the Fed e-mailed secret central bank documents to him, according to a complaint filed Thursday in Wilmington, Delaware.

Jiampietro maintains he was a Goldman Sachs officer at the time of the government investigation and was therefore entitled to have his attorney fees and expenses paid by the bank as outlined in its by-laws. The federal probe didn’t result in any charges against Jiampietro.

The case may hinge on how a judge interprets Jiampietro’s title of managing director. The same Delaware court this month ruled Goldman Sachs wasn’t required to pay the legal fees of Sergey Aleynikov, a former programmer accused of stealing the investment bank’s computer-trading code, simply because his title was vice president.

To access the complete Bloomberg News article hit the link below:

Goldman Sachs Sued by Ex-Manager Over Fed Secrets Leak Probe

Carney Takes Second Look at Brexit as BOE Readies Stimulus Plan

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts