Goldman Sachs Investors Closer to Class Status in 1MDB Case

Goldman Sachs Group Inc. investors should be granted class status to pursue their securities fraud claims alleging that the investment bank misled them about its ties to the 1MDB global bribery scandal, a magistrate judge told the federal court hearing the suit.

The class recommended would include all persons and entities that acquired Goldman’s common stock between Dec. 22, 2016, and Nov. 8, 2018, inclusive, and were damaged thereby, said Magistrate Judge Katherine H. Parker of the US District Court for the Southern District of New York.

The suit stems from false claims Goldman officers allegedly made concerning the company’s …

Source: news.bloomberglaw.com