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)
More than a year after creating its Climate and ESG Task Force in March 2021, the Securities and Exchange Commission’s ESG-related enforcement goals are finally being realized. The SEC recently brought a fraud action against...more
In April, we analyzed whether a corporation’s purely generic public statements on environmental, social and governance (“ESG”) issues could form the basis of a subsequent securities fraud action. At the time, we identified a...more
6/29/2021
/ Arkansas Teacher Retirement System v Goldman Sachs Group ,
Basic v Levinson ,
Burden of Persuasion ,
Burden of Proof ,
Certiorari ,
Class Action ,
Class Certification ,
Conflicts of Interest ,
Goldman Sachs ,
Investors ,
Presumption of Reliance ,
SCOTUS ,
Securities Exchange Act ,
Securities Litigation ,
Shareholders
A number of class-action lawsuits have been filed targeting national and community banks for their processing of loans under the Small Business Administration’s Paycheck Protection Program (PPP). It is not surprising that...more
In a critical ruling for businesses concerned by the threat of growing class-action litigation, the Supreme Court decided on May 16, 2016 that plaintiffs must allege a concrete injury-in-fact to maintain statutory class...more
On March 19, 2013, the United States Supreme Court issued a unanimous opinion in Standard Fire Insurance Co. v. Knowles barring class action plaintiffs from using stipulations that limit the amount in controversy to avoid...more