Supreme Court to Consider Securities Class Action Issue
By EsqSocial Corporation 16/12/20
On December 11, 2020, the United States Supreme Court granted certiorari in a shareholder securities litigation against Goldman Sachs. On appeal, Goldman argues that federal securities law permits issuer defendants in purported class actions to rebut the presumption of reliance where the alleged misstatements are of such a generic nature that they could not be expected to have impacted the stock price. The Supreme Court could decide a split between the Second and Seventh Circuits on whether...
By: Proskauer Rose LLP