Goldman Sachs is having a rough week.
On Tuesday, news broke that the firm is being sued for allegedly breaching its fiduciary duty.
The private equity firm Primus Pacific Partners — a shareholder of one of Goldman’s clients, the Malaysian bank EON Capital — is suing the firm for $510 million, CNBC reports, citing a statement.
The global bank is accused of hiding a conflict of interest involving Malaysian Prime Minister Najib Razak and his development fund 1Malaysia Development Berhad, or 1MDB.
Meanwhile, on Monday news broke that the Federal Reserve will bring a roughly $50 million enforcement action against the bank over an information leak.
The former Fed employee Jason Gross last year admitted to leaking confidential government information to Rohit Bansal, a banker at Goldman Sachs. They pleaded guilty to theft of government property in November.
As Reuters reports, the firm has already paid a $50 million penalty to the New York Department of Financial Services over the issue.
All in all, not a great start to the week for the firm.
The firm cited “a challenging environment characterised by low interest rates, political uncertainty and concerns about global growth.”