Goldman Sachs Group Inc is expecting to incur $2.3 billion more in potential losses from legal proceedings than the reserves it had set aside for such matters last year, a regulatory filing by the investment bank showed on Friday.
The Goldman Sachs company logo is on the floor of the New York Stock Exchange in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photois expecting to incur $2.3 billion more in potential losses from legal proceedings than the reserves it had set aside for such matters last year, a regulatory filing by the investment bank showed on Friday.
That was in line with what the bank had estimated at the end of its third quarter in September, but was higher than the $2 billion loss it projected in 2021. Goldman has been a target of lawsuits ranging from its role in Malaysia's 1MDB sovereign wealth fund scandal to the collapse of Archegos Capital Management in 2021.alleging widespread bias against women in pay and promotions at the Wall Street bank is also expected to head to trial later this year.
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