Former Goldman exec goes on trial in 1MDB fund scandal
·3 min
The episode opens by highlighting two major legal events: Purdue Pharma's appeal deadline for its opioid litigation settlement and the trial of former Goldman Sachs executive Roger Ong in the 1MDB scandal. It then details Purdue Pharma's situation, noting the company and Sackler family must file briefs by Friday to appeal a lower court ruling that rejected their settlement. The $4.5 billion deal included protections for the Sacklers against future lawsuits, which District Judge Colleen McMahon deemed improper. Purdue Pharma, maker of OxyContin, filed for bankruptcy in 2019 facing thousands of lawsuits accusing it of fueling the opioid epidemic through deceptive marketing. The company is represented by Marshall Huebner of Davis, Polk and Wardwell. The episode shifts to the 1MDB scandal, stating jury selection begins Monday for Roger Ong, former head of investment banking for Goldman Sachs, who pleaded not guilty to conspiring to violate anti-bribery laws and launder money. Goldman Sachs agreed to pay $2.9 billion in fines and have a Malaysian unit admit criminal wrongdoing to settle probes into the alleged looting of billions from the fund. Finally, it mentions Ghislaine Maxwell's attorneys have until Wednesday to respond to a lawsuit against the company, specifically to a letter from prosecutors objecting to their actions. The episode is structured as a fast-paced weekly preview for legal professionals, covering multiple high-profile cases with imminent deadlines. It provides specific dates, financial figures, and legal contexts without extensive commentary. The tone is informational and concise, focusing on scheduled events and key details relevant to the legal community.
