Supreme Court to Hear Goldman Sachs Fraud Case Appeal
The Supreme Court has agreed to consider making it tougher for shareholders to bring class-action lawsuits in securities fraud cases.
The decision to hear the case, Goldman Sachs Group Inc. v. Arkansas Teacher Retirement System, came Dec. 11 on appeal from the 2nd Circuit Court of Appeals. The respondents are the Arkansas Teacher Retirement System, West Virginia Investment Management Board, and the Plumbers and Pipefitters National Pension Fund.
The court provided no rationale for its decision, which is its custom.
Goldman Sachs has been accused of concealing conflicts of interest in mortgage-backed securities it sold. The firm claims the appeals court made it unduly easy for aggrieved investors to unite in a single lawsuit.
Goldman Gets High Court Review It Sought on Investor Suits msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.