Search Results for: goldman sachs

A jury for the US District Court for the Eastern District of New York Friday convicted former Goldman Sachs Managing Director Ng Chong Hwa, also known as Roger Ng, of corruption charges connected to Malaysia’s 1MDB development fund. The decision came following an eight-week trial. Ng was indicted in 2018. The jury found Ng guilty of [...]

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The US Supreme Court heard oral arguments Monday in Goldman Sachs Group v. Arkansas Teacher Retirement System. In this class action suit, Arkansas’ largest retirement fund and other shareholders claim to have lost more than $13 billion between 2007 and 2010, due to false statements in the bank’s regulatory filings and public comments. They allege [...]

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The US Supreme Court agreed on Friday to review the issue of whether shareholders can bring class action lawsuits that allege securities fraud. In Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement, the questions the court has agreed to address are: Whether a defendant in a securities class action may rebut the presumption of classwide [...]

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International investment bank Goldman Sachs Thursday admitted criminal wrongdoing by a Malaysian subsidiary of the bank in a settlement with the Securities and Exchange Commission filed in New York. The SEC settlement agreement summarizes the bank’s wrongdoing as “a scheme perpetrated by now former senior employees of Goldman Sachs who authorized and paid bribes and [...]

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Former Malayisan Prime Minister Najib Rajak has been sentenced to 12 years in prison at the end of a trial stemming from the 1MDB corruption scandal. The Kuala Lumpur High Court found Najib guilty on all seven charges of abuse of power, breach of trust, and money laundering. Judge Mohamad Nazlan Ghazali Tuesday ordered the sentences [...]

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The Malaysian government announced Friday that Goldman Sachs has agreed to a total settlement of USD $3.9 billion in the 1Malaysia Development Berhad (1MDB) corruption scandal. In return, the government will dissolve all the criminal charges and proceedings against the firm. The agreement includes a $2.5 billion cash payout by the investment bank and a [...]

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A shareholder of renewable energy company Pattern Energy sued the company and its directors and officers on Monday for selling shares too cheaply to a Canadian pension fund. Pattern Energy is a publicly-traded company that has a portfolio of renewable energy projects, and it has a 29 percent stake in a privately-held renewable energy development company [...]

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