Goldman officials reach US$79.5m shareholder settlement over 1MDB

Goldman Sachs Group Inc officers and directors reached a US$79.5 million (RM348.6 million) settlement to resolve shareholder claims that their poor oversight contributed to the bank being enmeshed in the looting scandal at the 1MDB sovereign wealth fund.

A preliminary settlement of the so-called shareholder derivative lawsuit was filed on Friday in Manhattan Federal Court and requires approval by US district judge Vernon Broderick.