(Reuters) — Abu Dhabi's International Petroleum Investment Co. said in a statement on Wednesday it had filed a lawsuit against U.S. investment bank Goldman Sachs Group Inc. and others to recover losses incurred due to the Malaysian state fund 1MDB.
IPIC said in the statement it filed a civil legal action in New York against the parties, including Goldman, alleging it "played a central role in a long-running effort to corrupt former executives of IPIC and its subsidiary Aabar Investments, and mislead IPIC and Aabar."
The European Union's General Court has rejected an appeal made by U.S.-based investment bank The Goldman Sachs Group Inc. and several cable companies against a €302 million ($353 million) cartel-related fine, Reuters reported. The European Commission had fined Goldman Sachs and the cable companies including Italy-based Prysmian S.p.A. in 2014 for running a power cable cartel for almost 10 years from 1999. The commission fined Prysmian €104.6 million including a joint fine of €37 million with its then parent, Goldman Sachs.