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Goldman Sachs Restates Earnings After $3.9 Billion Malaysia Settlement

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Goldman Sachs cut its earnings after reaching a $3.9 billion settlement with Malaysia to resolve a probe into its work with 1MDB

Goldman Sachs Group Inc. restated its second-quarter earnings lower Friday after reaching a $3.9 billion settlement with the government of Malaysia to resolve a long-running investigation into its work for a corrupt investment fund.

That settlement, reached last month just after the quarter’s end, reduced the bank’s earnings by $2 billion to $373 million, or 53 cents a share. Previously it had reported profits of $2.4 billion, or $6.26 per share, holding steady during a stretch in which the coronavirus pandemic hammered...

 

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What about the bonuses & compensation paid during the time these improprieties were being conducted to the unethical staff and the incompetent management & board, how will the shareholders get that back GoldmanSachs?!

Got away unscathed Goldman

The market - The smart will leave the market! Leave the market! 👍

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