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Friday, December 7, 2012

Software Developers, Goldman Sachs Face Off In Court

In a court case set to begin Monday, Dec. 10, in Boston, voice recognition pioneers Jim and Janet Baker will claim that Goldman Sachs gave them bad financial advice to sell their company Dragon Systems to a competitor, Lernout & Hauspie, that went belly up within weeks of the sale.

The Bakers lost everything and if successful with their lawsuit, could win nearly $1 billion in damages.

Goldman Sachs has claimed it was not obligated to do a financial analysis of the buyer.

The product line the Bakers created, including Dragon NaturallySpeaking, is currently owned by Nuance Communications.

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