NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF continues its investigation into The Goldman Sachs Group, Inc. (NYSE: GS).
An investigation by the U.S. Justice Department dating back to at least 2016 into the Company’s role as the primary bond underwriter in a multibillion-dollar fraud and money-laundering scheme involving a Malaysian government fund, 1Malaysia Development Berhad (1MDB) culminated with former Southeast Asia Chairman, Tim Leissner, pleading guilty to money laundering conspiracy and Foreign Corrupt Practices Act charges committed “as an employee and agent of Goldman Sachs.” Indictments were also unsealed against a former managing director of the Company, Roger Ng, and Malaysian financier Low Taek Jho, relating to the probe.
Recently, the Malaysian government filed a criminal action against the Company, announcing that it is seeking $7.5 billion in reparations, and the Company was sued in a securities class action lawsuit in the U.S. for failing to disclose material information, violating federal securities laws. The Company has also been sued by Abu Dhabi sovereign funds that guaranteed $3.5B in bonds to 1MDB over the Company’s role in the scheme.
KSF’s investigation is focusing on whether Goldman’s officers and/or directors breached their fiduciary duties to Goldman’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Goldman Sachs shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-gs/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
