Supreme Court To Examine the Presumption of Classwide Reliance
By EsqSocial Corporation 18/12/20
On December 11, 2020, in the first securities class action case to reach the United States Supreme Court in years, the Court agreed to review a decision by the Second Circuit Court of Appeals that refused to allow defendants to rebut the presumption of classwide reliance by pointing to the generic nature of alleged misstatements to show that the statements had no price impact and granted class certification (Goldman Sachs Group Inc. v. Arkansas Teacher Retirement System (Arkansas Teachers), No....
By: Skadden, Arps, Slate, Meagher & Flom LLP