Goldman Sachs officials settle shareholder claims in 1MDB scandal for $79.5m

Goldman Sachs officials settle shareholder claims in 1MDB scandal for $79.5m

Signage for 1Malaysia Development Bhd. (1MDB) is displayed at the site of the Tun Razak Exchange (TRX) project in Kuala Lumpur, Malaysia, on Friday, July 17, 2015. Photographer: Goh Seng Chong/Bloomberg

Goldman Sachs Group Inc officers and directors reached a $79.5 million settlement to resolve shareholder claims that their poor oversight contributed to the bank being enmeshed in the looting scandal at Malaysia’s 1MDB sovereign wealth fund.