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Misrepresentation › Class Certification › Basic v Levinson

Patterson Belknap Webb & Tyler LLP

The U.S. Supreme Court Clarifies the Standards and Proof Required to Meet the Reliance Element of a Securities Fraud Claim

Patterson Belknap Webb & Tyler LLP on

On June 21, 2021, the Supreme Court issued an opinion by Justice Barrett on the reliance element of a securities fraud claim. In a unanimous portion of her opinion (the “Decision”), Justice Barrett held that courts may...more

Bradley Arant Boult Cummings LLP

Second Circuit Clarifies How Price Impact Can Be Rebutted at the Class Certification Stage in Securities Fraud Class Actions

Bradley Arant Boult Cummings LLP on

Last month, in Arkansas Teachers Retirement System v. Goldman Sachs Group, Inc., the Second Circuit vacated the Southern District of New York’s order certifying a class in a Rule 10b-5 securities fraud class action. At issue...more

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