Goldman Sachs Shareholder Derivative Litigation
Lieff Cabraser represents the Public Employees’ Retirement System of Mississippi and the Sergeants Benevolent Association Annuity Fund, shareholders of The Goldman Sachs Group, Inc. (“Goldman Sachs”), in a document and records request pursuant to Section 220 of the General Corporation Law of the State of Delaware (“s.220 request”). The s.220 request is part of an ongoing investigation into Goldman Sachs’s involvement in arranging $6.5 billion in bond offerings on behalf of a Malaysian government-owned investment fund, 1Malaysia Development Bhd. (“1MDB”), that earned Goldman Sachs nearly $600 million in fees.
The company’s involvement in these bond offerings was allegedly at the center of a wide-ranging fraud and money-laundering scheme in which at least $2.7 billion in proceeds from the offerings was misappropriated to pay bribes and kickbacks to foreign officials, ensuring Goldman Sachs continued to benefit from its business with 1MDB, and personally enriching the individuals involved.