2nd Circ. Halts Goldman Class Action For High Court Appeal

Law360 (July 16, 2020, 9:51 PM EDT) -- The Second Circuit pressed pause Thursday on a hotly watched securities class action against Goldman Sachs Group Inc. while the bank puts its class certification challenge before the U.S. Supreme Court.

The federal appellate court said in June that it would not rehear Goldman's arguments against certification for the investor class, which were rejected in an April ruling from a split panel that unanimously declined to narrow the scope of the so-called "price maintenance theory" but disagreed on whether Goldman's investors had rebutted the presumption of reliance established under Basic Inc. v. Levinson.

While the Second Circuit declined to rehear the case...

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