Goldman Sachs Group Inc. is fighting to clear its name, but not in a court of law.
Goldman has hit back hard against civil fraud charges with a public relations blitz aimed at poking holes in the Securities and Exchange Commission’s case and repairing the bank’s reputation. Every time the SEC has punched, Goldman has quickly counterpunched.
“Goldman is a very wealthy firm, and they’re bringing tens of millions of dollars in resources to this fight,” said Thomas Ajamie, a Houston-based defense lawyer who specializes in financial fraud cases but who isn’t working for Goldman. “They have hired very skilled lawyers, lobbyists and public relations people. They appear to be getting their story out.”