Class Certification Ruling In Goldman Sachs Stock-Drop Suit Vacated, Remanded

Mealey's (August 26, 2021, 1:50 PM EDT) -- NEW YORK — In a per curiam opinion on Aug. 26, a Second Circuit U.S. Court of Appeals panel vacated and remanded a federal district court’s grant of class certification in a securities class action against Goldman Sachs Group Inc. and certain of its former senior executives, ruling that the district court should consider the generic nature of the alleged misrepresentations forming the basis of the suit in its price impact evaluation in light of the U.S. Supreme Court’s recent ruling in the case in determining whether class certification is appropriate....