Goldman Pushes Supreme Court To Narrow MBS Class Standing

Law360, New York (October 29, 2012, 4:09 PM EDT) -- Goldman Sachs & Co. on Friday pressed the U.S. Supreme Court to rule that a plaintiff cannot file claims on behalf of a class if it lacks standing to bring those claims individually, aiming to dismiss a mortgage-backed securities case with potentially broad implications for financial firms.

The investment bank filed a petition for certiorari urging the Supreme Court to reconsider a Sept. 6 Second Circuit decision reviving the suit by the NECA-IBEW Health & Welfare Fund. The suit alleges Goldman made misleading statements about potential...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.