Goldman Sachs has flagged losses linked to legal proceedings that could potentially total over $2 billion.
Goldman Sachs expects to incur $2.3 billion more in potential losses from legal proceedings compared to last year, according to a regulatory filing from the bank.
The amount is in line with the bank’s estimation at the end of the third quarter in 2022 but higher than the $2 billion projected in 2021.
Various Lawsuits
Goldman has been facing a number of different lawsuits, including its role in the Archegos collapse in 2021 and a gender bias case that is expected to head to trial later this year.
On the 1MDB scandal, the latest developments involve Malaysian Prime Minister Anwar Ibrahim’s call for Goldman to allegedly honor a settlement involving a $2.5 billion payment and return of $1.4 billion in assets. According to the bank, there is an accounting disagreement that involves an asset with «unilaterally reduced» value as well as the exclusion of substantial additional assets.
