The Goldman Sachs Group, Inc.

Company Name
The Goldman Sachs Group, Inc.
Stock Symbol
Class Period
July 1, 1999 to May 7, 2002
Southern District of New York

This action (the “Action”) arises from investigations, announced in April 2002, by government entities into the independence of the firm’s research analysts. The Plaintiff alleges that, during the Class Period, GS Group’s stock price was artificially inflated as a result of untrue or materially misleading statements concerning the research activities of Goldman, Sachs & Co. (“Goldman Sachs”), including statements about the objectivity and independence of the firm’s investment research. Plaintiff further contends that Defendants made these statements knowing them to be false or misleading, or recklessly disregarding their false or misleading natures, and that investors suffered injury as a result of the alleged inflation. The case has been litigated since July 2003, for almost 7 years. Dispositive pre-trial summary judgment and other motions were to be filed on June 15, 2010. The Lead Plaintiff and Lead Counsel believe that the Settlement provides the Class with a benefit now instead of years of further uncertain litigation, including disposition of the summary judgment motions, a contested trial and likely appeals, with the possibility of no recovery at all.