Tuesday, July 14, 2009
NEW YORK (Reuters) – Goldman Sachs Group Inc (GS.N) executives sold almost $700 million worth of stock since the collapse of rival Lehman Brothers last year, the Financial Times said on Monday.
The newspaper said that most of the stock sales took place while the biggest U.S. investment bank was bailed out by the government with $10 billion of taxpayer money, according to filings with the Securities and Exchange Commission.
(ARTICLE CONTINUES BELOW)
A Goldman Sachs spokeswoman declined to comment.
Goldman executives sold stock worth $691 million between September 2008 and April 2009, more than the $438 million in stock sold between September 2007 and April 2008, when the average share price was substantially higher, the Financial Times said.
Full story here.