2nd Circ. Revives Goldman Sachs Mortgage Class Action

Law360, New York (September 6, 2012, 3:11 PM EDT) -- The Second Circuit on Thursday partially reinstated a putative class action accusing Goldman Sachs & Co. of making misleading statements about potential risks in connection with the sale of mortgage-backed securities, a ruling that could potentially broaden plaintiffs' standing to bring mortgage-backed securities class actions.

In a unanimous opinion, the federal appellate court in Manhattan ruled that a lower court judge incorrectly dismissed the NECA-IBEW Health & Welfare Fund's class action claims, finding that the union pension fund alleged a cognizable injury and appropriately represented all...
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