U.S. Supreme Court Takes On Review Of Securities Class Certification Ruling

Mealey's (December 14, 2020, 1:51 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court on Dec. 11 agreed to hear oral arguments in what Goldman Sachs Group Inc. and three of its senior executives are calling “the most important securities case” to come before the court since its 2014 ruling in Halliburton Co. v. Eric P. John Fund Inc. (Halliburton II), an appeal 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 (Goldman Sachs Group Inc., et al. v. Arkansas Teacher Retirement System, et al., No. 20-222, U.S. Sup.)....