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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Goldman is sued in U.S. over merger linked to Malaysia’s 1MDB

Posted on 27 July 2016

Goldman Sachs Group Inc (GS) was sued on Tuesday by a major shareholder of a Malaysian bank it once advised, and which accused the Wall Street bank of fraudulently shortchanging it in a merger to curry favor with that country’s prime minister.
In a complaint filed with the New York State Supreme Court in Manhattan, Primus Pacific Partners said it was seeking $510 million of damages from Goldman and former Managing Director Tim Leissner, after the bank concealed its conflicts of interest with Prime Minister Najib Razak and Malaysia’s 1MDB sovereign wealth fund………………………………………..Full Article: Source


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