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Goldman Sachs profit falls 24% as legal expenses mar results; Goldman Sachs profit falls 24% as legal expenses mar results

Jan 15, 2020 - The Canadian Press

NEW YORK - Goldman Sachs said its fourth-quarter profits dropped by 24% from a year earlier, as the bank had to set aside money to cover its looming settlement with U.S. authorities over its role in a Malaysian sovereign wealth fund scandal.

The investment bank said Wednesday that it earned a profit of $1.72 billion in the quarter, or $4.69 a share, down from a profit of $2.32 billion, or $6.11 per share, a year earlier. The results missed analysts' expectations for earnings of $5.47 a sha...