Goldman, Blankfein, Cohn Fail to Shake 1MDB Shareholder Suit (2)

Goldman Sachs Group Inc., former chief executive officer Lloyd Blankfein and former chief operating officer Gary Cohn must face a shareholder lawsuit over the 1MDB global bribery scandal.

U.S. District Judge Vernon Broderick in Manhattan on Monday denied requests from Goldman, Blankfein and Cohn to dismiss the lawsuit, led by Swedish pension fund Sjunde AP-Fonden, but dropped former co-Chief Operating Officer Harvey Schwartz from the case.

Shareholders sued Goldman Sachs in late 2018, accusing it of misleading them about the firm’s work with the sovereign wealth fund, for which the bank arranged $6.5 billion in bond sales. ...