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Abu Dhabi's IPIC drops lawsuit against Goldman Sachs over 1MDB scandal

Oct 21, 2020 - Reuters UK

Oct 21 (Reuters) - Abu Dhabi’s International Petroleum Investment Co (IPIC) dropped a lawsuit against Goldman Sachs Group Inc to recover losses suffered from the U.S. investment bank’s dealings with Malaysian state fund 1MDB, a court filing showed on Tuesday.

The lawsuit had alleged that Goldman conspired with unidentified people from Malaysia to bribe its two former executives - former IPIC managing director Khadem Abdulla al-Qubaisi and Mohamed Ahmed Badawy al-Husseiny, former CEO o...