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Glancy Prongay & Murray LLP Announces Investigation on Behalf of The Goldman Sachs Group, Inc. Investors (GS)

GS | January 7, 2019

Glancy Prongay & Murray LLP Announces Investigation on Behalf of The Goldman Sachs Group, Inc. Investors (GS)

Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of The Goldman Sachs Group, Inc. (“The Goldman Sachs Group, Inc.” or the “Company”) (NYSE: GS) investors concerning the Company and its officers’ possible violations of federal securities laws.

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According to data gathered by Bloomberg in 2016, Goldman Sachs was involved in “$18.8 billion of Malaysian mergers and acquisitions over the past five years, making it the top foreign adviser with a 20.5[%] market share.” The business Goldman Sachs’ was involved in Malaysia included raising funds for 1Malaysia Development Berhad (“1MDB”), a Malaysian state-owned investment fund set up in 2009 initially to establish financing for economic and infrastructure deals throughout Malaysia.

As of early 2015, 1MDB has been subject to international criminal and regulatory investigations for potential fraud and money laundering linked to missing payments of $11 billion owed to banks and bondholders. Investigational articles published by the Wall Street Journal throughout 2015 detailed how money was funded from 1MDB to Malaysian Prime Minister Najib Razak’s 2013 election campaign, with further investigation tracing close to $700 million in deposits in personal bank accounts believe to be held by Najib Razak. Following this investigation, the U.S. Department of Justice implicated two formed Goldman Sachs managing directors along with high-level 1MDB officials and associates for misappropriation of an estimated $4.5 billion from 1MDB between 2009 and 2014.

If you purchased Goldman Sachs stock, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9244, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.

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