Goldman to Pay $500 Million Investor Class Deal in 1MDB Suit

Goldman Sachs Group Inc. agreed to pay half a billion dollars to resolve investor class allegations that the banking giant misled them about its involvement in the 1Malaysia Development Berhad scandal.

It’ll be one of the top 20 largest settlements in the US Court of Appeals for the Second Circuit since a 1995 law was enacted aimed at curbing frivolous securities class actions, the Swedish pension fund leading the suit told the US District Court for the Southern District of New York in a filing Wednesday.

The deal would end more than seven years of litigation against Goldman, former CEO ...