A three-judge panel for the US Court of Appeals for the Second Circuit reversed a district court’s class certification in the decade-long Arkansas Teacher Retirement System v. Goldman Sachs Group litigation regarding...more
8/18/2023
/ Appeals ,
Arkansas Teacher Retirement System v Goldman Sachs Group ,
Class Action ,
Class Certification ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
Ethics ,
Investors ,
Policies and Procedures ,
SCOTUS ,
Securities ,
Securities and Exchange Commission (SEC)
Back in June, we analyzed the Supreme Court’s decision in Goldman Sachs Group v. Arkansas Teacher Retirement System, which examined the extent to which a corporation’s arguably generic public statements could form the basis...more
In a recent interview with CNBC, FINRA Chair Eileen Murray forcefully made the case for increased government regulation of environmental, social and governance (ESG) disclosures by public companies. Citing concerns with the...more
With the Securities and Exchange Commission resolute in its efforts to establish new disclosure requirements related to environmental, social and governance (ESG) risks, companies appear increasingly resigned to some measure...more
These days, it is commonplace for companies to commit to general concepts like “sustainability” or a “diverse workforce” in public statements and SEC disclosures. But when stock prices drop as a result of specific...more
On Wednesday, March 10, 2021, the Department of Labor announced that, pending further guidance, it will not enforce two recent regulations that many viewed as deterring retirement fund managers from socially conscious...more
A series of recent announcements by the SEC underscores the agency’s commitment—and allocation of resources—to its heightened focus on environmental, social and governance (“ESG”) issues. Significantly, on March 4, 2021, the...more