Docket Number:
15-3179-cv
Filing Headline:
U.S. Chamber Argues Second Circuit Should Review Certification Decision in Securities Class Action Case
Filing Date:
Thu, 2015-10-15
Filing Description:
<p>In its <a href="http://www.chamberlitigation.com/sites/default/files/U.S.%20Chamber%20Amicus%20Brief%20--%20In%20re%20Goldman%20Sachs%20%28CA2%29.pdf">brief</a>, the U.S. Chamber <span style="font-size: 12px;">urged the U.S. Court of Appeals for the Second Circuit to grant a Rule 23(f) petition for appellate review of the district court’s decision certifying a class of all purchases of Goldman Sachs stock between 2007 and 2010 concerning alleged misrepresentations made about Goldman’s conflict of interest policies and business practices in relation to the Abacus collateralized debt instrument. The Chamber’s brief argued that the district court erred in applying the Supreme Court’s recent decision in Halliburton II regarding reliance in securities class action litigation, and that further review of the district court’s error was warranted.</span></p><p>Mitchell A. Lowenthal and Lewis J. Liman of Cleary Gottlieb Steen & Hamilton LLP served as co-counsel for the U.S. Chamber of Commerce on behalf of the U.S. Chamber Litigation Center.</p>
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Outcome Content:
<p>This cas has not been decided yet.</p>
Procedural History:
<p>U.S. Chamber <a href="http://www.chamberlitigation.com/sites/default/files/U.S.%20Chamber%20Amicus%20Brief%20--%20In%20re%20Goldman%20Sachs%20%28CA2%29.pdf">amicus brief</a> filed 10/15/2015.</p>
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