Goldman Sachs Looks To Exit 1MDB Shareholder Suit

Law360 (January 10, 2020, 2:39 PM EST) -- Goldman Sachs urged a New York federal judge Thursday to dismiss it from a proposed class action over the billion-dollar 1Malaysia Development Berhad fraud scandal, calling shareholders' assertion that it hid alleged wrongdoing from them "implausible."

A subsidiary of the investment bank acted as underwriter for three 1MDB bond offerings in 2012 and 2013. Goldman contended in its dismissal bid that the investors' allegations don't point to how their alleged losses were caused by Goldman, don't include specific examples of false statements, and don't show how the bank and its former executives purportedly intended to deceive.

Despite "reams of articles" about the conspiracy since...

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