In a filing on Monday, Goldman Sachs Group said that it had been sued for alleged insider trading in connection with the Archegos crash earlier this year, citing the lawsuits as potential legal risks.

The complaints accuse the bank of selling shares in three firms - Vipshop, GSX Techedu, and Tencent Music Entertainment Group - based on "material nonpublic knowledge regarding the liquidation of Archegos' stake," according to the filing.Goldman Sachs CEO: Governments must put a price on carbon - Electrek

Archegos Capital Management, the family office run by former Tiger Asia manager Bill Hwang, defaulted on margin calls earlier this year, triggering a fire sale of stocks including ViacomCBS and Discovery Goldman was one of several banks that had lent to Archegos Capital Management, which defaulted on margin calls earlier this year, triggering a fire sale of stocks including ViacomCBS and Discovery.

When the fund collapsed, global banks lost almost $10 billion, with Switzerland's Credit Suisse taking the brunt of the losses.

The three complaints were filed in federal court in New York last month and demand undisclosed damages, according to Goldman.