STEVENSON, Md., Jan. 18, 2019 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced on behalf of purchasers of The Goldman Sachs Group, Inc. (NYSE: GS) (“Goldman Sachs” or the “Company”) securities during the period between February 28, 2014 through December 17, 2018, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until February 19, 2019 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Goldman Sachs securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Goldman Sachs participated in a fraud and money-laundering scheme in collusion with 1Malaysia Development Bhd. (“1MDB”).
According to the complaint, following a March 7, 2016 article reporting that the U.S. Justice Department had sent a subpoena in connection with a probe linked to 1MDB, a November 8, 2018 article detailing the personal involvement of a Goldman Sachs executive in establishing ties with Malaysia and 1MDB, a November 12, 2018 statement that the Malaysian government would seek a return of $600 million in fees from Goldman Sachs, and December 17, 2018 reports that Malaysia had filed criminal charges against Goldman Sachs and two executives, the value of Goldman Sachs shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Goldman Sachs securities purchased on or after February 28, 2014 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.