Lawmakers Question Goldman CEO's Judgment Over Retaining Lawyer With Epstein Ties
GS sits 64% above its 52-week low of $609.311.
Summary
US lawmakers Elizabeth Warren and Raja Krishnamoorthi are raising concerns with Goldman Sachs CEO David Solomon over his reported plan to keep former top lawyer Kathy Ruemmler as an adviser. Ruemmler resigned earlier this year, effective June 30, due to her links to Jeffrey Epstein, including accepting gifts and advising him. The lawmakers' letter directly questions Solomon's professional judgment and fitness to lead the bank, citing information suggesting Ruemmler maintained extensive contact with Epstein. This development creates significant reputational and regulatory risk for Goldman Sachs, potentially impacting investor confidence. Solomon has been asked to respond by June 26 regarding the firm's knowledge and due diligence.
At the time of this announcement, GS was trading at $1,000.01 on NYSE in the Finance sector, with a market capitalization of approximately $295.4B. The 52-week trading range was $609.31 to $1,098.36. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.