Market Chatter: Goldman to Settle Shareholder Suit Over 1MDB Scandal With $500 Million Payment

MT Newswires Live05-22 17:35

Goldman Sachs (GS) will settle a class-action lawsuit accusing it of defrauding shareholders about its work for Malaysian sovereign wealth fund 1MDB by paying $500 million, Reuters reported Thursday, citing a court disclosure.

Though the suit was settled last month, the settlement amount was disclosed in a filing in a New York federal court Wednesday, the news agency reported.

The settlement still requires approval from a judge, according to the report.

Goldman didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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