Goldman Sachs Group Inc cleared of all charges in doomed Dragon sale

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Goldman Sachs Group Inc cleared of all charges in doomed Dragon sale. (AP) Goldman Sachs Group Inc cleared of all charges in doomed Dragon sale. (AP)
SummaryJury cleared Goldman of claims of negligence, intentional misrepresentation.

testimony, largely by video, from a lineup of Goldman Sachs executives, including Gene "Tiger" Sykes, who today runs the bank's mergers and acquisition business and denied any role in the Dragon deal.

Dragon's attorneys said the bank had assigned "D-team" investment bankers to advise Dragon, which they argued the bank made because the software company was one of its smaller clients.

"It is regrettable that the plaintiffs went to such lengths to unfairly and publicly attack the reputations of the Goldman Sachs bankers who advised Dragon Systems," said Goldman's Galvin on Wednesday. "Those bankers have our full support."

Alan Cotler, a lawyer for the Bakers, told the jury the couple lost their life's work when Lernout & Hauspie collapsed and went into bankruptcy. The Bakers tried to get their technology back, but were unsuccessful.

The Dragon software is now owned by Nuance Communications Inc.

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