ABA Publishes Akin Gump Article on SCOTUS Securities Class Action Ruling
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The American Bar Association Section of Litigation has published the article “Supreme Court’s Goldman Sachs Decision Unlikely to Have a Significant Impact on Securities Class Actions” in its Class Actions & Derivative Suits newsletter. Authored by Akin Gump litigation partners Michelle Reed and Neal Marder and associate Haley High, the article discusses a Supreme Court decision from June that gave defendants in class action cases “the green light to submit evidence related to the merits [of a case] at the class certification stage.”
Reed, Marder and High write that the ruling in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System “signifies that class certification will likely remain a point of heated contention in securities class actions” in the future. As a result, they add, lower courts “may now place a stronger burden on plaintiffs to actually combat the ‘generic’ characteristics of alleged misstatements.”
To read the article in its entirety, please click here.
