Goldman Sachs Seeks 2nd Circuit Rehearing Over Split Class Certification Ruling

Mealey's (May 26, 2020, 7:44 AM EDT) -- NEW YORK — Reconsideration of a divided Second Circuit U.S. Court of Appeals ruling upholding a federal district court’s application of the inflation-maintenance theory for demonstrating price impact in granting class certification in a securities class action lawsuit is necessary because the majority’s holding will make class certification “all but inevitable in every case” within the circuit, Goldman Sachs Group Inc. and certain of its senior executives argue in a May 12 motion for panel rehearing or rehearing en banc (Arkansas Teachers Retirement System, et al. v. Goldman Sachs Group Inc., et al., No. 18-3667, 2nd Cir.)....