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...
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