Goldman Sachs Announces Preliminary Court Approval of Shareholder Derivative Settlement Relating to 1MBD

Rhea-AI Summary

The Goldman Sachs Group, Inc. (NYSE: GS) announced a preliminary court approval of a settlement agreement for a shareholder derivative lawsuit on September 16, 2022. The U.S. District Court for the Southern District of New York sanctioned this agreement, which aims to resolve issues arising from the lawsuit. Detailed information regarding the settlement is accessible in the Notice of Settlement and the full settlement agreement, both available on the firm’s investor relations website.

Positive

• Settlement approval may reduce legal uncertainties and associated costs for Goldman Sachs.

Negative

• The ongoing legal proceedings could have previously affected investor confidence and stock performance.

NEW YORK--(BUSINESS WIRE)-- The Goldman Sachs Group, Inc. (NYSE: GS) today announced that on September 16, 2022, the U.S. District Court for the Southern District of New York preliminarily approved a settlement agreement resolving a shareholder derivative lawsuit involving the firm. In accordance with the Court’s order preliminarily approving the settlement, Goldman Sachs is making disclosure of the settlement to its shareholders in the Notice of Settlement of Shareholder Derivative Litigation and Hearing (Notice) attached hereto. The Notice, along with a copy of the full settlement agreement, can also be found on the investor relations section of the firm’s website at the following web addresses: www.goldmansachs.com/investor-relations/docs/FultonCountyEmployeesRetirementSystem-NoticeofSettlement.pdf and www.goldmansachs.com/investor-relations/docs/FultonCountyEmployeesRetirementSystem-StipulationandAgreement.pdf.

The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220923005455/en/

Media Contact:

Andrea Williams

Tel: +1 212 902 5400



Investor Contact:

Carey Halio

Tel: +1 212 902 0300

Source: The Goldman Sachs Group, Inc.

FAQ

What was the Goldman Sachs lawsuit about?

The lawsuit was a shareholder derivative lawsuit seeking resolution through a settlement.

When was the settlement for Goldman Sachs approved?

The settlement was preliminarily approved on September 16, 2022.

Where can I find more information about the Goldman Sachs settlement?

Further details can be found in the Notice of Settlement and full settlement agreement on Goldman Sachs' investor relations website.

What is the stock symbol for Goldman Sachs?

The stock symbol for Goldman Sachs is GS.