Goldman Sachs to Pay $500M to Settle Lawsuit Alleging It Misled Shareholders About Its Work for 1MDB

Goldman Sachs will pay $500 million to settle a class-action lawsuit alleging the bank misled shareholders about its work for Malaysian sovereign wealth fund 1MDB.

Plaintiffs attorneys disclosed the figure in a court filing Wednesday, one month after the parties said they’d agreed to settle.

“The settlement ⁠is an outstanding result for the class,” attorneys for Sjunde AP-Fonden, a Swedish pension fund, wrote in the filing.

Read more at Banking Dive