Goldman Sachs employees received a couple of emails last week about the Facebook deal.The first contained very detailed instructions about how to respond to inquiries about it.
Then last Thursday, Goldmanites received another company wide advisory relating to the SEC’s “preliminary” probe into the deal.
Here’s what the email said:
Subject: FW: Document Preservation – Confidential Treatment – Facebook Transaction
In light of ongoing media reports concerning regulatory interest in certain events involving Facebook, please ensure you preserve all documents (including hard copies, electronic information and emails) created since November 1, 2010 relating in any manner to potential investments, financings or other business dealings involving Facebook.
No such document (including draft documents) may be destroyed.
We may contact you in due course about collecting such documents.
This matter, like all legal matters, should be kept confidential.
Goldman’s Asset Management chief explained to the BBC recently that obviously, in light of the furor surrounding the Abacus deal, the bank is cautiously proceeding with the Facebook transaction.
“We are quite a paranoid crowd,” Jim O’Neill said, “and given what we’ve gone through I would put it to you that we’ve made sure we’re doing all the right things before we approach the situation.”
Nonetheless, the SEC still wants to check things out.