Goldman Case Threatens 'Runaway' Class Cert., 2nd Circ. Told

By Sarah Jarvis (May 19, 2022, 6:19 PM EDT) -- The U.S. Chamber of Commerce and four other groups have weighed in on Goldman Sachs' bid to nix a district court's decision to certify a class of investors in their long-running securities litigation against the bank, arguing the decision threatens to "foster runaway securities class certification."

In an amicus brief filed Wednesday, the Chamber of Commerce — joined by the Securities Industry and Financial Markets Association, Bank Policy Institute, American Bankers Association, and American Property Casualty Insurance Association — urged the Second Circuit to decertify the class. The class of investors was certified for the third time by U.S. District Judge...

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