SAN DIEGO, March 18, 2019 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed by a current investor in NYSE: GS shares against certain Goldman Sachs directors over alleged breaches of fiduciary duties in connection with the 1MDB scandal.
Investors, who purchased shares of The Goldman Sachs Group, Inc. (NYSE: GS), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges Goldman Sachs board of directors failed to respond to obvious warning signs in connection with the Malaysian sovereign wealth fund 1 Malaysia Development Berhad (“1MDB”), including multiple contemporaneous exposés from highly reputable financial publications pointing out red flags and detailing the dubious aspects of these deals. The plaintiff alleges that between January 1, 2012 to the present Defendants failed to serve the best interests of Goldman and its shareholders.
By early 2014, the 1MDB bond offerings attracted the scrutiny of the Federal Reserve, which warned Goldman about its inadequate vetting of the deals and questioned why 1MDB had issued such large bond offerings when it appeared to already have been flush with cash. Beginning in 2015 and 2016, additional news reports were published regarding the endemic corruption of the 1MDB deals.
In late 2018, the full extent of Goldman’s exposure to the 1MDB scandal became apparent. Among other things, Goldman Sachs has been sued for $7.5 billion by the Malaysian government and the Federal Reserve and the New York Department of Financial Services, among other regulators, have opened investigations.
Those who purchased The Goldman Sachs Group, Inc. (NYSE: GS) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.