Wells Fargo, Goldman Sachs and Morgan Stanley Paying $120,000,000 To Settle Lawsuit Tied to Investment Firm’s Collapse: Report

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Three top US banks will hand over more than $100 million to settle a lawsuit related to the collapse of a multi-billion-dollar investment firm. Morgan Stanley, Goldman Sachs and Wells Fargo have agreed to pay a combined $120 million to settle a lawsuit alleging they hid conflicts of interest when selling ViacomCBS shares, which contributed to the collapse of Bill Hwang’s Archegos Capital Management, reports Reuters. The case against the three banks was filed last month by former shareholders of ...