Akin Gump Strauss Hauer & Feld LLP

09/17/2021 | Press release | Distributed by Public on 09/17/2021 16:22

ABA Publishes Akin Gump Article on SCOTUS Securities Class Action Ruling

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.