Goldman, Blankfein, Cohn fail to shake 1MDB shareholder suit

The 1MDB scandal has spurred court cases around the world, as Malaysian authorities try to track down more than $4 billion that was siphoned from the country’s economic development fund.

GOLDMAN Sachs Group Inc., former chief executive officer Lloyd Blankfein and former chief operating officer Gary Cohn must face a shareholder lawsuit over the 1MDB global bribery scandal.

U.S. District Judge Vernon Broderick in Manhattan on Monday denied requests from Goldman, Blankfein and Cohn to dismiss the lawsuit, led by Swedish pension fund Sjunde AP-Fonden, but dropped former co-Chief Operating Officer Harvey Schwartz from the case.