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Goldman Sachs Group Inc. v. Arkansas Teacher Retirement System

Pending petition
Docket No. Op. Below Argument Opinion Vote Author Term
20-222 2nd Cir. TBD TBD TBD TBD TBD

Disclosure: Goldstein & Russell, P.C., whose attorneys contribute to this blog in various capacities, is counsel to the respondents in this case.

Issues: (1) Whether a defendant in a securities class action may rebut the presumption of classwide reliance recognized in Basic Inc. v. Levinson by pointing to the generic nature of the alleged misstatements in showing that the statements had no impact on the price of the security, even though that evidence is also relevant to the substantive element of materiality; and (2) whether a defendant seeking to rebut the Basic presumption has only a burden of production or also the ultimate burden of persuasion.

SCOTUSblog Coverage

DateProceedings and Orders (key to color coding)
Aug 21 2020Petition for a writ of certiorari filed. (Response due September 24, 2020)
Aug 25 2020Blanket Consent filed by Petitioner, Goldman Sachs Group, Inc., et al.
Sep 08 2020Motion to extend the time to file a response from September 24, 2020 to October 23, 2020, submitted to The Clerk.
Sep 08 2020Blanket Consent filed by Respondent, Arkansas Teacher Retirement System, et al.
Sep 09 2020Motion to extend the time to file a response is granted and the time is extended to and including October 23, 2020.
Sep 24 2020Brief amicus curiae of Washington Legal Foundation filed.
Sep 24 2020Brief amicus curiae of Retail Litigation Center, Inc. filed.
Sep 24 2020Brief amici curiae of Former SEC Officials and Law Professors filed.
Sep 24 2020Brief amicus curiae of The Society for Corporate Governance filed.
Sep 24 2020Brief amici curiae of Securities and Financial Markets Association, et al. filed.
Sep 24 2020Brief amici curiae of Financial Economists filed.
Oct 21 2020Brief of Arkansas Teacher Retirement System, et al. in opposition submitted.
Oct 21 2020Motion to delay distribution of the petition for a writ certiorari of Goldman Sachs Group, Inc., et al. submitted.
 
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