Investors: High Court Review Of Securities Class Certification Ruling Unneeded

Mealey's (November 13, 2020, 11:58 AM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court should deny review of a divided Second Circuit U.S. Court of Appeals panel’s 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 against Goldman Sachs Group Inc. and three of its senior executives because no federal court has accepted the position that the petitioners offer as a reason to grant review in this instance, institutional investors argue in an Oct. 21 opposition brief filed in the Supreme Court (Goldman Sachs Group Inc., et al. v. Arkansas Teacher Retirement System, et al., No. 20-222, U.S. Sup., 2020 U.S. S. Ct. BRIEFS LEXIS 4214)....