Goldman Sachs (NYSE:GS) Rejects Shareholder Demands for Compensation Reform

Monday, Goldman Sachs Group (NYSE:GS) reported in a filing with the Securities and Exchange Commission that it had received several letters from shareholders asking for the firm to reform the way it pays out salaries, benefits and compensation.

Goldman's board of directors "rejected the demands," according to the filing.

Goldman said shareholders have filed lawsuits in December alleging that the board of directors "breached its fiduciary duties" over setting high compensation levels.

Shares of Goldman Sachs are trading 0.3% higher to $156.75 premarket Monday.