LOS ANGELES (MarketWatch) — Shares of Goldman Sachs Group Inc. fell Monday evening, with the declines sparked as the day session was winding down by a report the investment bank’s chief has retained counsel.

Meanwhile, shares of Focus Media Holding Ltd. rose following better-than-expected quarterly results and forecast from the digital-advertising firm.

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Late-traded Goldman shares GS, +2.12% were off 0.8% at $104.25. They stumbled just before the regular-session closing bell, ending down 4.7%, after a Reuters report that Chief Executive Lloyd Blankfein has hired high-profile Washington defense attorney Reid Weingarten.Read more about Goldman’s stock decline.

Separately, The Wall Street Journal reported Goldman Sachs had confirmed that Blankfein and other executives have hired lawyers to advise them after the U.S. Senate earlier this year referred a report on the bank’s securitization activities to the Justice Department.

Weingarten’s past clients include former WorldCom CEO Bernard Ebbers and former Enron accounting officer Richard Causey.

Focus Media FMCN shares moved up 6.6% to $29 in low volume. The Shanghai-based company during the late-trading session said adjusted earnings for the second quarter were 44 cents per American depositary share, better than the Thomson Reuters estimate of 37 cents a share. Revenue rose 48% to $166.1 million, higher than the $163 million forecast by Wall Street.

Net income attributable to Focus Media during the most recent period rose to $42.8 million, or 30 cents per ADS, from $25.3 million, or 17 cents per ADS, a year earlier.

For its third quarter, Focus Media expects revenue of $175 million to $177 million. Wall Street currently projects $174 million in revenue.