Goldman Sachs Group Inc. said it had been sued for alleged insider trading related to the Archegos meltdown earlier this year, flagging the lawsuits as potential legal risks in a filing on Monday.
The lawsuits were filed by shareholders of three companies—Vipshop Holdings Ltd, GSX Techedu Inc., and Tencent Music Entertainment Group—and accuse the bank of selling shares in these companies based on “material nonpublic information regarding the liquidation of Archegos’ position”, according to the filing.
