Korein Tillery Discusses Securities Fraud Class Action Case Heard by the Supreme Court
Attorney Chad Bell spoke with Law360 on the Supreme Court’s decision in a securities fraud case involving Goldman Sachs. The case was anticipated to impose significant implications on shareholder rights, but the high court’s decision revealed little change to come as it neither prevents investors from being able to claim a company's corporate statements misrepresent its ability to manage conflicts of interest nor changed the standard that defendants have to meet for defeating class certification.
As the decision to vacate certification for the Goldman Sachs investors class has little impact on blocking future securities claims from achieving class status, Bell notes that a finding to the contrary would have "made class certification in securities cases far more difficult."
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