Search Results for: goldman sachs

The High Court of Malaysia decided on Wednesday that the prosecution gathered sufficient evidence to proceed with the trial of former prime minister Mohammad Najib Razak. The court also ruled that Najib Razak must take the stand to defend himself against charges of abuse of power and money laundering related to the mismanagement of the [...]

Leading Wall Street investment banking firm, Goldman Sachs (Goldman), one month before trial agreed to a settlement of a $215 million lawsuit on Friday following a lengthy gender-biased class action lawsuit, first filed in September 2010. The action was bought by female associates and vice-presidents of the firm, under Title VII of the Civil Rights [...]

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 [...]

In the digital world, you can be whomever you want, whenever you want. You can even be whatever you want, as there is no general rule mandating the adoption of human form online. And while you can have multiple identities, you can also have none at all — such as through anonymous blockchain transactions. Digital [...]

The US Supreme Court on Monday vacated and remanded a shareholder class action suit against Goldman Sachs, sending the case back to the lower court to determine whether alleged misstatements by Goldman Sachs were too general to have affected its stock price. The suit, filed in 2011, alleged that Goldman Sachs artificially inflated its share [...]

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 [...]

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 [...]

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 [...]

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 [...]

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 [...]