Goldman Sachs Group Inc (NYSE:GS) investors are suing the bank over the 1MDB scandal and are seeking sworn testimony from three former employees who live in the U.K.
Shareholders' lawyers told in a court filing that the testimony of Patrick Kidney, Toby Watson, and Cyrus Shey is essential to the lawsuit's central claim that GS misled investors about its involvement with the Malaysian sovereign wealth fund and Jho Low, the financier who allegedly was behind the looting of the fund.
As per the Bloomberg report, Kidney, Watson, and Shey's roles make them particularly knowledgeable about the bank's dealings with Low and its work on three bond deals.
According to the filing, the corruption scandal totaled $6.5 billion, bringing Goldman Sachs $600 million in fees.
Questioning of the three men "will seek to uncover information regarding red flags that arose during the bond approval process and the due diligence practices and procedures employed" by the committees on which they served, according to the filing.
Price Action: GS shares closed 0.01% lower at $309.00 during after-hours trading on Monday.
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