NEW YORK, April 22 (Reuters) – Goldman Sachs has agreed to settle a lawsuit accusing the Wall Street bank of defrauding shareholders about its work for 1MDB, a Malaysian fund that became embroiled in a corruption scandal. In a letter filed on Wednesday in Manhattan federal court, Goldman and the lead plaintiff said they have […]
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Goldman Sachs settles shareholder lawsuit over 1MDB scandal
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NEW YORK, April 22 (Reuters) – Goldman Sachs has agreed to settle a lawsuit accusing the Wall Street bank of defrauding shareholders about its work for 1MDB, a Malaysian fund that became embroiled in a corruption scandal.
In a letter filed on Wednesday in Manhattan federal court, Goldman and the lead plaintiff said they have agreed in principle to settle, and plan to submit a settlement for preliminary approval by May 20.
(Reporting by Jonathan Stempel in New York)