Goldman Execs To Pay $79.5M To End Shareholder 1MDB Suit

By Dave Simpson (May 13, 2022, 11:18 PM EDT) -- A slate of current and former Goldman Sachs directors have agreed to pay $79.5 million to end a putative shareholder class action claiming the billion-dollar 1MDB fraud scheme is a result of their repeated shirking of duties to the bank, the investors said in New York federal court Friday.

The Georgia pension fund that is leading the suit said in a bid for preliminary approval that the deal will also result in several corporate governance measures that are designed to strengthen internal controls at the company. It urged the court to greenlight the deal.

"Notwithstanding its confidence in the merits of...

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