Goldman sued

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The Independent Online
Goldman Sachs, the US investment broker, said yesterday it had been sued in a US court by MGN Pension Trustees over its handling of share dealings in companies run by Robert Maxwell

Goldman said the pension groups' claims were invalid, misdirected and 'an expensive and time-consuming distraction' from talks aimed at replenishing pension funds looted by the late media baron.

Maxwell, who died in 1991, took more than pounds 440m from his companies' pensions in an attempt to prop up his debt-laden empire. Goldman was fined by the Securities and Futures Association over its dealings with Maxwell, but it has denied wrongdoing.