News & Analysis as of

Class Action Securities Litigation Supreme Court of the United States

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Jones Day

United States Supreme Court to Hear Two Securities Cases This Term

Jones Day on

The Supreme Court is set to hear arguments in two cases concerning the pleading standard in securities fraud class actions....more

Alston & Bird

Supreme Court to Hear Two Important Appeals Regarding the Requirements for Pleading Securities Fraud

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The U.S. Supreme Court has agreed to hear appeals of the Ninth Circuit’s decisions in the Facebook and NVIDIA putative securities class action cases. Our Securities Litigation Group breaks down the potentially far-ranging...more

Kramer Levin Naftalis & Frankel LLP

Supreme Court Grants Certiorari To Determine Scope of Required Corporate Risk Disclosures

On June 10, 2024, the Supreme Court granted certiorari in Facebook, Inc. v. Amalgamated Bank to review a decision by the Ninth Circuit Court of Appeals holding that Facebook could be held liable under Section 10(b) and Rule...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - February 2024

Securities Class Actions Show No Signs of Slowing in 2024 - Key Points - While the volume of securities class actions filings has remained consistently elevated over the past several years, the composition of the class...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Supreme Court’s Affirmative Action Opinion Continues To Spawn Challenges to DEI Programs

Key Points - - In the wake of the Supreme Court’s decision in Students for Fair Admissions, challenges to DEI initiatives have focused on programs that facially appear to provide a zero-sum advantage based on protected...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - May 2023

Supreme Court Hears Argument on Traceability Requirement in Circuit-Split Slack v. Pirani - Key Points - - Before the end of June, the U.S. Supreme Court is expected to issue a decision in a high-profile securities case...more

Dechert LLP

Securities and Derivative Litigation: Quarterly Update

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In 2022, there were 197 federal securities class actions filed, which is a slight drop from the 211 filings in 2021, and a significant drop from the over 400 filings in 2017, 2018, and 2019, and over 300 in 2020. There were...more

Jones Day

2022 Securities Litigation Year in Review

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During 2022, securities case filings fell for the fourth consecutive year and were down slightly from 2021. The number of announced settlements rose substantially last year, as did total settlement amounts. The 2022...more

Proskauer - Corporate Defense and Disputes

Supreme Court to Decide Whether Discovery Stays Apply to State-Court Securities Lawsuits This Fall

One of the most significant differences between bringing a securities lawsuit in state versus federal court is the application of the mandatory discovery stay set forth in the Private Securities Litigation Reform Act (the...more

Akin Gump Strauss Hauer & Feld LLP

SCOTUS Remands Securities Class Action Back to the 2nd Circuit

On June 21, 2021, the U.S. Supreme Court issued its opinion in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System,1 vacating the 2nd Circuit’s previous decision and remanding for further consideration as to...more

Goodwin

House Votes to Repeal OCC True Lender Rule

Goodwin on

In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Goodwin

SCOTUS Vacates Class Certification In Suit Against Goldman Sachs And Clarifies Appropriate Scope Of Price Impact Evidence

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SCOTUS Vacates Class Certification In Suit Against Goldman Sachs And Clarifies Appropriate Scope Of Price Impact Evidence; Stockholders Strike $110 Million Settlement In Suit Alleging Breaches Of Fiduciary Duties By Former...more

K&L Gates LLP

Supreme Court Remands Securities Class Action Against Goldman Sachs Back to Second Circuit

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On 21 June 2021, in a narrow ruling, the Supreme Court held that courts may consider the generic nature of an alleged misrepresentation as evidence of a lack of price impact where defendants seek to rebut the presumption of...more

Seyfarth Shaw LLP

In the Wake of the Pandora’s Box Opened by the Supreme Court’s Cyan Decision, Court to Address Discovery Stay Question in State...

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On July 2, 2021, the US Supreme Court granted the Petition for a Writ of Certiorari filed in Pivotal Software, to address one of the many questions stemming from the Court’s decision in Cyan, which permitted state courts to...more

Wilson Sonsini Goodrich & Rosati

Supreme Court Provides Guidance on Class Certification in Securities Class Actions in Goldman Sachs Decision

On June 21, 2021, the United States Supreme Court issued its decision in Goldman Sachs Group Inc. v. Arkansas Teacher Retirement System, which provides important guidance for defendants seeking to rebut the presumption of...more

Cadwalader, Wickersham & Taft LLP

Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System: Supreme Court Vacates Class Certification Order in Decade-Long...

On June 21, 2021, the United States Supreme Court issued a decision in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, vacating a decision of the Second Circuit that affirmed certification of a securities...more

UB Greensfelder LLP

SCOTUS Green Lights Price Impact Evidence for Class Cert in Inflation-Maintenance Case

UB Greensfelder LLP on

A decade of litigation in the Goldman Sachs securities fraud class action has ultimately revealed an unremarkable truth, confirmed by a unanimous U.S. Supreme Court – in a case brought under Rule 10b-5 premised on an...more

Bracewell LLP

Supreme Court's Ruling in Goldman Sachs Leaves Open a Path for Securities Fraud Claims Based on Generic ESG Statements

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In April, we analyzed whether a corporation’s purely generic public statements on environmental, social and governance (“ESG”) issues could form the basis of a subsequent securities fraud action. At the time, we identified a...more

Perkins Coie

Supreme Court: “Generic Nature” of Misstatements in Securities Action May Help Defendants Defeat Class Certification

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In a significant decision on securities class actions, the U.S. Supreme Court last week held that the generic nature of alleged misrepresentations will often be “important evidence of a lack of price impact” that can be used...more

Jones Day

U.S. Supreme Court Clarifies the Permissible Evidence and Burdens at Class Certification in Securities-Fraud Cases

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The U.S. Supreme Court held that courts should consider the generic nature of a misrepresentation when assessing price impact in securities-fraud suits and that defendants bear the burden of persuasion to prove a lack of...more

BCLP

U.S. Supreme Court: Courts Must Consider Generic Nature of Statements in Considering Certification of Securities Class Action, but...

BCLP on

In a closely followed case concerning class certification in securities fraud class actions, the U. S. Supreme Court has held that the generic nature of a company’s statements should be considered in determining whether such...more

King & Spalding

Supreme Court Addresses Presumption of Reliance in Securities Class Actions

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On June 21, 2021, the Supreme Court issued its highly anticipated decision in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, No. 20-222. Goldman concerned the standards to be applied by courts when...more

Goodwin

The Supreme Court Provides Guidance on the Standard for Deciding Price Impact at Class Certification in Securities Fraud Cases

Goodwin on

In Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, the U.S. Supreme Court answered two important questions regarding the standards that govern class certification in securities fraud actions, affirming the...more

Troutman Pepper

US Supreme Court Reverses Class Certification in 10b-5 Action

Troutman Pepper on

On June 21, the U.S. Supreme Court issued a decision in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, a closely watched case involving the standards for class certification in securities class actions....more

Kramer Levin Naftalis & Frankel LLP

Supreme Court Rules That All Relevant Evidence of Price Impact Matters at Class Certification Stage

On June 21, the U.S. Supreme Court issued its long-awaited decision in Goldman Sachs Group, Inc. et al. v. Arkansas Teacher Retirement System et al. The Court held that in ruling on class certification in a securities action,...more

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