By Stephen NakrosisGoldman Sachs Group, Inc. said Friday that the U.S. District Court for the Southern District of New York preliminarily approved a settlement agreement to resolve a shareholder derivative lawsuit related to 1Malaysia Development Bhd., or 1MDB. In February 2019, a shareholder derivative action was filed in the district court. On Thursday, the district court said a proposed settlement had been reached. Under the proposed settlement, Goldman Sachs agreed to certain compliance measures, the documents said. A hearing on the matter has been scheduled for Jan. 13 at the district court.

Source: Wall Street Journal September 24, 2022 07:19 UTC