Goldman Sachs Set to Pay $500 Million in 1MDB Case

Goldman Sachs Agreed to Pay $500 Million - Lawyers Say It Should Have Been Five Times That.

On a Wednesday, the filing quietly arrived in a federal courtroom in Manhattan. It is the type of document that attorneys quietly place on the docket. $500 million. After years of litigation related to the 1MDB scandal, Goldman Sachs has now agreed to pay a group of shareholders led by Sweden’s Sjunde AP-Fonden pension fund. The lawyers for the plaintiffs referred to it as “an outstanding result.” In private, a number of individuals who have bee…

Goldman Sachs Set to Pay $500 Million in 1MDB Case

Wall Street titan Goldman Sachs has agreed to pay $500 million to resolve a class action lawsuit, which accused the firm of defrauding shareholders regarding its involvement with 1MDB, a Malaysian sovereign wealth fund entangled in a vast corruption scandal. Goldman Sachs is a prominent Wall Street investment bank that provides a wide range of financial services including investment banking, securities, investment management, and consumer bankin…