Bamberg v. Goldman, Sachs & Co.
Court of Appeals for the First Circuit
1Opinion of the Court
LYNCH, Chief Judge.
Dragon Systems, Inc. (“Dragon”), a leading voice recognition software company in the late 1990s, needed infusions of capital to continue operations and so sought an acquisition partner. It hired an investment banker, Goldman Sachs (“Goldman”), to assist it. Dragon was acquired in June 2000 by Lernout & Hauspie Speech Products N.V. But Lernout & Hauspie had fraudulently overstated its earnings. When that was learned, bankruptcy ensued for the merged company, and the name Dragon and its technology were sold from the estate.
Naturally, considerable litigation followed out of…
2Cases cited52 opinions
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