Falberg v. The Goldman Sachs Group, Inc.

Background

Leonid Falberg brought the action as a representative of a class of similarly situated people and on behalf of The Goldman Sachs 401(k) Plan. The defendants were The Goldman Sachs Group, Inc., The Goldman Sachs 401(k) Plan Retirement Committee, and John Does 1-20.

The defendants asked for permission to file certain exhibits, an appendix, and an unredacted declaration under seal or in redacted form. They said the documents supported their motion to exclude certain class members from the class and require those individuals to arbitrate. The documents had been designated confidential under a protective order.

Arguments concerning sealing

The filing discussed the public’s presumptive right to inspect judicial records but also noted that documents used only in discovery may fall outside that presumption. The defendants argued that the documents contained identifying information about absent class members, including names, employment history, and the economic terms of severance payments. They also argued that the separation agreements contained confidential commercial information about Goldman Sachs’s separation arrangements.

The defendants relied on the privacy interests of former Goldman Sachs employees and on the claimed sensitivity of the separation agreements. They also stated that the court had previously allowed similar material to be filed under seal. The plaintiff took no position on the motion.

Ruling

The court’s order marked the application as granted. It therefore allowed the defendants to file the specified documents under seal or in redacted form in connection with their motion concerning class members and arbitration. Judge Edgardo Ramos signed the order, dated April 11, 2022.