Securities Law

Goldman CEO Hires Steptoe Lawyer Known for Representing Corporate Chieftains

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Several Goldman Sachs executives, including its CEO, have hired lawyers amid controversy over the investment bank’s promotion of mortgage-backed securities.

Goldman CEO Lloyd Blankfein has hired white-collar criminal defense lawyer Reid Weingarten of Steptoe & Johnson, report Reuters, the Wall Street Journal (sub. req.) and the New York Times. Weingarten has previously represented former WorldCom CEO Bernard Ebbers, former Enron accounting officer Richard Causey, former Tyco general counsel Mark Belnick, and former GlaxoSmithKline lawyer Lauren Stevens. A current client is former Duane Reade CEO Anthony Cuti.

A Goldman spokesperson said the executives were expected to be interviewed in connection with a Justice Department inquiry. A Senate report released in April and forwarded to the department criticized the investment bank for “exploiting” clients, Reuters says. It also accused Goldman executives of misleading Congress. Goldman has disputed many of the report’s conclusions.

Prior coverage: “NYT Learns of Goldman Trader’s Legal Defense from Discarded Laptop” “Who Really Won? Record $550M SEC Fine No Big Deal to Goldman Sachs, Says NY Times”

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