Private Securities Litigation

On December 11, 2020, the United States Supreme Court granted certiorari in Goldman Sachs Group, Inc., et al. v. Arkansas Teachers Retirement System, et al. No. 20-222, 2020 U.S. LEXIS 5993 (U.S. Dec. 11, 2020), to review a Second Circuit Court of Appeals decision, which involves issues of class certification in the context of shareholder securities class action litigation.

The questions presented on appeal are: (1) whether a defendant may rebut the Basic presumption by pointing to the generic nature of the alleged misstatements, even though that evidence is also relevant to the substantive element of materiality; […]